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Tronusdlong

Tron (TRX) formed a big bullish Shark | A Good long OpportunityHi dear friends, hope you are well and welcome to the new trade setup of Tron ( TRX ) with US Dollar pair. Previously we cauth a nice pump of TRX: Now on a 4-hr time frame, TRX has formed a bullish Gartley pattern. At the moment after the completion of the final leg the priceline is slightly moved up, therefore, we can wait for the price correction to catch it from the buying zone. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
1
TRX - 6h. Buyers have a chance to test $0.07TRX Buyers aggressively launched an attack in the $0.037-0039 range yesterday. This range f rom August 2020 keeps the price from continuing the growth trend. 3 previous attempts by buyers to take control of the range ended in a sharp reversal of the price to the liquid price zone of $ 0.023-0.024. However, this attack is special. In our opinion, the buyers managed to neutralize the main sellers on January 29. The strong momentum on high volumes has satisfied many sales orders. After such an event, the sellers did not launch a counterattack, which signaled their weakness. Today we see that the price of TRX is uncorrected to the mark of $0.05 . this mark is in fact the limit of the global 2-year consolidation. After breaking this mark, buyers will be able to continue to grow to $0.07. However, if we remember that the historical maximum of TRX is around $0.2 - there is still a lot of work for buyers. ___________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
by P_S_trade
24
Three bullish reversal moves flashedBig wedge and Ichimoku cloud: If we take a look at the long-term monthly chart, then TRX with Bitcoin pair is moving in a falling wedge pattern and still has more capacity to move more down against BTC to hit the support of this big Wedge. But on the weekly chart, the Ichimoku cloud has changed from bearish to bullish. Now it is easy for the priceline to cross up this bullish cloud at any time. This indicates that this time the price action of Tron may not move down to hit the support of wedge on the monthly chart, as mentioned earlier. Different support and resistance level: Now if we take a look at the different long-term support and resistance levels in TRX with USD pair, the price action has been rejected by the $0.04 resistance then for some time moved above the $0.03 support but unfortunately, this support could not be retained and now the priceline is moving between $0.025 to $0.03 support and resistance levels. Bull Flag: On the weekly chart, the price action has also formed a big bull flag and also formed a symmetrical triangle. There is also a 25 simple moving average support below the support of this triangle. Big Cup & Handle: In the same TRX with US Dollar pair, on the long-term monthly chart, the price action of Tron has formed a big bullish reversal Cup & Handle pattern. There is also an exponential moving average 21 support at the support of handle. Bullish BAT move: While the price action has formed two bullish reversal moves (Bull Flag and Cup & Handle), it has also formed another bullish reversal harmonic BAT move on the 2-day chart and entered in the potential reversal zone of this pattern. Conclusion: The TRX coin has formed the bullish reversal BAT pattern at the right time when the price action has also completed bullish reversal moves on bigger time frames. Therefore now the TRX can start a long term rally at any time. For exact buy and sell targets for this trade, and other harmonic trading signals you can join: www.patreon.com
Long
by moon333
3
TRX has completed bullish Cypher at strong supportHey friends hope you are well and welcome the new update on Tron Coin. On the daily chart the price action of TRX coin has broken down simple moving averages with the time period of 25, 50, 100 and 200. And having good support of 100 SMA at the moment. On the long term weekly chart the priceline has broken out SMAs with the time period of 25, 50 and 100. But there is a big distance between the simple moving averages and the price action of Tron. Therefore The priceline may consolidate at this level until atleast 25 SMA will move up to provide support. On the daily chart the price action of TRX has very good support of an uptrend line. And the 100 simple moving average is also at the same level where the this uptrend line is providing support to candlesticks. Therefore the pricline may start another rally to the upside from this trendline. On this support the price action has completed bullish Cypher pattern and entered in potential reversal zone. The targets as per Fibonacci sequence of Cypher are: Potential reversal or buying zone: $0.0244 to $0.0202 (this should be used as stop loss as well) Fibonacci projection or sell zone: $0.0277 to $0.0356 Conclusion: Even though the priceline is having very strong support of 100 SMA and the uptrendline as well, and entered in PRZ level of Cypher pattern. However, if the potential reversal zone will be broken down then a rally to the downside can be started. Therefore this PRZ level should be used as stop loss.
BITFINEX:TRXUSDLong
by moon333
1
TRX is trying for big breakoutThe technical analysis of price action: If we move to the live chart then it can be easily noticed that the price action is still moving in an up channel and the price is increasing more and more while this movement within the channel. I have also placed the directional of movement indicator and we can see the bullish line that is positive directional indicator is still above the negative directional indicator that is the bearish line. And the ADX is also moving up so we can expect a big move to the upside in the near future. While moving in the up channel the price action also formed a cup & handle pattern. After reaching at the resistance of the cup the price action retraced between 0.50 to 0.618 Fibonacci retracement level and completed the handle of the cup. Finally, the priceline moved up with a powerful bullish divergence and broke out the resistance of handle and also broke out the resistance of the cup. Now after this breakout we can expect that the price action will have a little bit pullback and it will re-test the previous resistance of the cup as support and then it will start the next rally. The priceline is trying to breakout the bit triangle: If we switch on the long-term weekly chart then we have already seen in my previous articles as well that the price action of TRX coin is moving in a descending triangle. And after breaking out from the cup and handle pattern on the daily chart now the price action is trying to breakout the resistance of this descending triangle as well. The price action of Tron has 100 simple moving average resistance at the same level where we have the resistance of this triangle. I've also place the volume profile indicator on the complete price action moving within this pattern. And it can be easily observed that the trader’s interest is very low at the support and from the upside we have the trader’s interest beyond the resistance of this triangle. Therefore there are strong chances that the price action will soon break out this resistance rather to break down the support. The price action has entered in Ichimoku bearish cloud: Now I would like to draw your attention to a very significant signal. If we place the Ichimoku cloud on the long-term weekly chart then it can be easily noticed that the price action has entered the bearish cloud. We have also received the bull cross between the conversion and the baseline. This is very important time for the TRX that at the same time the price action is trying to breakout the triangle’s resistance and entered in a very powerful resistance of Ichimoku bearish cloud. Therefore if the price action will be able to breakout from the triangle then it will be easy for Tron to even break out this strong resistance of bearish cloud as well. And this will be a very powerful breakout even it can lead the priceline of Tron to $0.35 to $1. Conclusion: The TRX is bullish on the charts and at the same time we're having different announcements and good news by team of Tron. So the combination of the news and events and bullish patterns and indicators on the charts together can lead the TRX more strong bullish on the long term.
BITFINEX:TRXUSD
by moon333
1
TRXUSD has entered back in the channelHi guys and gals hope you are doing well and welcome to the new update on Tron coin. Few days back TRX coin was likely to break down the channel’s support but this week it is again entered in the channel. Even though TRX was moving down with Bitcoin and all top alts to break down the channel but the release smart contract privacy protocol was scheduled on 7th July made this week bullish for Tron coin and this week it has rallied around 21% and re-entered in channel. At this time the price action is likely to re-test the support of the channel. In case of successful re-test the price action can move up to the resistance. And after reaching at the resistance of channel TRX will gain 18% more value. Tron moved back above the EMAs: On the daily chart the price action of TRX also has broken out the exponential moving average 10 and exponential moving average 21. At this time it is again above these two EMAs. From the first week of April 2020 the exponential moving averages 10 and 21 are working as good supports for the Tron. Therefore these EMAs can be helpful for TRX to start the next upward move. The simple moving averages are broken out again: Previously the price action of TRX broke down the 25 simple moving average and in the past week it was at the support of 50 SMA. Finally the price action has again turned bullish and broke out the 25 simple moving average again. At this time the price action is above 25 simple moving average and likely retest as this simple moving average as support. The bullish candlestick is appeared at the ressitance: The price action of Tron coin is also moving in a descending triangle. And after hitting at the resistance it was likely to move down at the support. But this week we have a bullish candlestick that is again going to hit the resistance of the triangle to make another attempt for breakout. Turning from bearish to bullish at the resistance is another very positive sign in favor of bullish momentum. The price action might not re-test the previous support: If we watch the different support and resistance levels on the daily chart then TRX has the support at $0.0127. And after the rally of this week the price action is in the correction mode. But as we have the 25 and 50 simple moving averages as good supports and the price action has just broken out the 25 SMA. Therefore there will be less chances that the price action will be dropped down again at the support. Bullish Shark move: Now I would like to draw your attentions to the chart that I posted on September 2019 where I revealed that the price action of Tron has completed the formation of Shak pattern. At that time it was in the potential reversal zone of Shark. Finally the price action Tron turned bullish in January 2020 and produced more than 114% bullish rally and dropped down again in the potential revesal zone. At this time the price action is again turning bullish and moving above this PRZ level. Therefore I am expecting a sequence of the bullish candlesticks on the monthly chart that can lead the price action of TRX towards a very long term bullish rally. Conclusion: Few days back the price action of TRX was bearish on short term and on mid-term but now it is turned bullish on short term and mid-term as well. However, we should set our stop loss the support of the up channel that has been formed on the daily chart to minimize the risk factor. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITFINEX:TRXUSDLong
by moon333
1
TRXUSD a short term correction before the next bullish moveHi guys hope you are doing good. In today's article we will watch how the Tron is completing the setup for the long term bullish rally that can take the price action of TRX to $1. Up channel, moon phases and EMAs: The price action of TRX is moving within an up channel since after mid of March 2020. During this bullish move the price action of TRX is using the exponential moving averages 10 and 21 as strong support very well. Whenever the price action reaches the support of these two moving averages it takes bounce from here and reaches at the resistance of the channel. Recently from 21st May to 29th May 2020 the price action was moving sideways at the support of the channel and above the moving averages and finally it has taken another bounce and produced more than 17% rally. Here I have also placed the moon phases indicator. That is very useful to determine the bearish and bullish trends. On the chart, you can notice there are full moons and also dark moons. The distance from one moon to another moon is called a synodic cycle that is 29.5 days long. The most recent full moon has appeared below the resistance of the channel. And at this time priceline has also reached the resistance of the channel, therefore the full moon is indicating that it would be difficult for the priceline to move up more from this level. If we take a look at the most recent dark moon then it has appeared below the support of the channel. Therefore there is a possibility that the price action of Tron can reach up to that level. However, for the breakout we need that next dark moon within the channel and the new full moon should be appeared above the resistance of the channel. Simple moving averages turned more bullish: I have placed simple moving averages with the time period of 25,50, 100 and 200. The price action has crossed up all the simple moving averages. And the 25 simple moving average is moved above all other simple moving averages that is very positive move. Once the biggest time period moving average that is 200 will be moved below all other moving averages then a complete opened alligator mouth by the simple moving averages can be formed and once this alligator mouth will be completed then a strong upward move can be triggered. At this time the 50 simple moving average has almost formed a golden cross with 200 simple moving average. That is a very warm invitation to the traders as this golden cross is considered as a very strong buying signal among the traders community. A descending triangle: On weekly chart the price action of TRX is moving in a descending triangle. When I posted my previous article the price action was very close to the support now at this time the priceline of Tron has reached at the resistance. There is a very positively signal by the Bollinger bands that it has moved above the resistance of the triangle. Therefore it will be easy for the priceline to have break out. I've also placed the volume profile on the complete price action moving within this triangle that is showing the traders interest up to $0.026. That is clear indication that we have the traders interest above the level where the price action is moving at this time therefore it can be traded more higher. Priceline is moving towards next resistance level: If we watch a different support and resistance levels on the long-term weekly chart. Then it can be clearly noticed that after the strong bearish trend in the month of March 2020. The price action reached up to the support of $0.0127 and bounced from there. Now at this time the price action is moving to next resistance level of $0.023. This resistance is not broken out since it was broken down in August 2019. Then we have the next resistance level at $0.031 and if this resistance will be broken out then we have another strong resistance at $0.04 cents. And this resistance is also not broken out since after July 2018 when it was broken down. In case of breaking out the $0.04 resistance, the next resistance level is 8 cents because TRX doesn’t have any significant resistance between these two levels on long term chart. The $0.08 resistance is very strong as it is not broken out since May 29 2018. And once the priceline will be able to break out this key level resistance then within no time it can reach up to 35 cents. Because there is no significant resistance on the long-term between 8 cents and 35 cents. And if $0.35 resistance will be broken out then the price action can reach up to $1 is well. Conclusion: As at this time the price action has reached up to the resistance of the channel. Therefore there is a possibility that on short term Tron will start a correction rally up to the support of the channel. And that is at $0.015 and this is the level where the TRX has the 25 simple moving average support. However, on the long-term price action of the Tron is bullish
BITFINEX:TRXUSD
by moon333
3
These Moves Can Lead The Tron To $0.35Hi friends hope you are well and welcome to the new update on Tron. After the drastic drop from Feb to March 2020 the TRX has started the recovery rally like all other top coins. On daily chart the priceline has formed an up channel for the upward movement and recently on 10th and 11th May we have witnessed strong bearish candlesticks. And at that time the TRX was likely to break down the channel support. But now the candlesticks are moving side with the support and weak bullish candlesticks are appeared signaling that the bears are losing control. The exponential moving averages: After the death cross between EMA 10 and exponential moving average 21 on 25th of February the price action was facing a strong bearish trend. Finally on 7th April the EMA 10 crossed up the EMA 21 and formed the golden cross. Since then the price action is using the exponential moving average 10 and EMA21 as strong support. We can see from 10th to 22nd of April the candlesticks had been moving sideways on these EMAs and used these exponential moving averages as support very well then moved up and started the next rally. at this time the price action is again moving sideways on EMA 10 and 21 and using these exponential moving averages as a support. Therefore we need the closing above these EMAs for the next bullish rally. The simple moving averages: If we watch the simple moving averages on the daily chart then it can be clearly seen that since the price action has turned bullish in the mid of March 2020 it has easily broken out the 25, 50, 100 and 200 simple moving averages. After breaking out the 200 smple moving average the TRX tried retest the previous resistance as support but could not retained its position and moved down at 25 simple moving average again. At this time 50 SMA is moving up to form the golden cross with 100 in 200 SMAs. Once we will have the golden cross between 50 and 200 simple moving averages then it can produce more powerful bullish rally that can help the price line of TRX to break out the resistance of the channel that has been formed on the daily chart. Triangle on long term chart: Now if we switch to the long-term weekly chart then the price action of Tron has formed a triangle. And after hitting at the support it is getting bounced from there. I have also place the volume profile on the complete price action moving within this triangle. that is showing that the traders interest is very low below the support of this pattern. Therefore when the price action moved down where the trader’s interest was very weak TRX turned bullish and now it is likely to make another attempt to break out the resistance of this triangle. If we watch the movement of Bollinger bands then the upper band of the bollinger bands is above the resistance of the triangle. That is very positive sign and that will be helpful for the priceline for the breakout. Because if this bollinger bands would be below the resistance of the triangle then it could play a role of strong resistance to stop the priceline reaching the triangle resistance. The breakout from key level resistance can lead Tron to $0.35: Now I would like to show you the long-term resistance and support levels on this weekly chart. In my previous article we have seen that the priceline was at the support of $0.0127. Now it is getting bounced from the support and moving towards the next resistance level of $0.023. On this chart we have a key level resistance at $0.04. This $0.04 resistance level is very strong because since July 2018 when it was broken down the price action is not able to break out this resistance level again. Once the Tron will be able to break out this key level resistance then there is no significant resistance level between $0.04 to $0.08. And in my point of view once the price action will break out this $0.04 resistance level then TRX will easily break out the next resistance level of $0.08 and then this breakout can lead the price action to hit the previous highest price of $0.35. Big bullish harmonic move: Here I would like to recall a very big bullish Shark pattern that has been formed on the monthly chart. I've also shown this pattern in my previous articles as well. I was expecting that after taking bullish divergence from the potential reversal zone of this pattern the price action will breakout all resistance levels on long term. But unfortunately after taking the bullish divergence of 114% the price action again dropped down in the potential reversal zone. But this buying zone level is a very strong support therefore the price action is likely to move up again on the long term and soon it was start a sequence of green bullish candlesticks. I am pretty sure that this bullish Shark pattern will be very much helpful for Tron to reach the previous highest price level of $0.35 that is more than 2000% from here. Conclusion: Further bullish movement depends in breaking out the 100 and 200 SMAs and the channels resistance on the daily chart. Once the price action will breakout these resistance levels then TRX can break out the resistance of triangle on long-term weekly chart then it can break out the key level resistance of 4 cents to achieve the highest price of 35 cents on long term. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITFINEX:TRXUSDLong
by moon333
2
You Should See These Bullish Signals Of Tron (TRX) BreakoutA big descending triangle move: Since November 2018 the price line of phone is moving within a descending triangle. On weekly chart after the recent strong bearish trend the price line of TRX is again reached at the support of this triangle. And now we have third candlestick that is hitting at the support. The first candlestick that has touched the support of this triangle was very long strong bearish and it has even crossed beyond the support of the triangle but in very next candlestick the price action is retraced back and now Tron is above this support again. I have also placed the volume profile on the complete price action moving within this triangle. And we can see that the trader’s interest is very low near the support level and even the point of control of this volume profile is $0.0246. Therefore we can expect the move up to the point of control soon. Priceline did not breakdown the short term daily chart support: In my previous post that I posted on 8th march 2020 I was expecting that the price action will hit at the support of $0.0127. This is short term daily chart support for Tron. And now we can see that the price action is hitting at this support and so far we don't have even a single candlestick that has been closed below the support level therefore this short term support is still valid. A bullish Shark is still in play: In September 2019 I posted an article where I have revealed that the price action of Tron had formed a complete bullish Shark pattern. The formation of this pattern was started on November 2018 and completed on September 2019. Its mean when I posted this article then the price action just had completed this pattern. And in the month of February 2020 the priceline turned bullish and produced more than 114% profit and in very next candlestick the price line dropped down in the PRZ level again. In case of bullish rally what should be the sell targets: Now we have to two chart patterns one is the big descending triangle on weekly chart and other one is a very big bullish Shark pattern that is still in play therefore we can set our cell targets according to both patterns. Therefore now we have two types of cell targets. 1. Sell targets according to descending triangle: If we place the Fibonacci retracement tool from the tail of the triangle upto the support of the triangle then we receive the Fibonacci projection area between 0.382 to 0.786 Fib level at $0.0216 to $0.0343. Therefore we can set this bracket as sell targets. 2. Sell targets according o bullish Shark: If we place the Fibonacci retracement tool from C to D leg then we receive the Fibonacci projection area between $0.020628 to $0.033906 this is very close to the targets as mentioned above. Conclustion: The Tron likely to failed breaking down the support therefore we can accept a break out or bullish rally from this level. But the support level of triangle where the TRX is moving at the moment is very critical and this support is a market structure for the Tron. If it will be broken down then the situation can be more disastrous therefore we should use the support of descending triangle as our stop loss.
BITFINEX:TRXUSDLong
by moon333
1
Tron formed bullish BAT and completed bullish setup for breakoutBear Move And Formation Of Wedge: From Jun 2019 to Sep 2019 after taking more than 70% drop the world's 11th largest cryptocurrency Tron is moving in a falling wedge now, the formation of this chart pattern was started from Oct 15 2019 the in mean while the priceline of TRX has touched 5 times the support of this wedge and hitting 3rd time on the resistance of the wedge and the upper bands of the Bollinger bands as well, here we can expect the down move for price correction again maximum upto the support of this wedge or it may hit the support or lower bands of Bollinger bands and move up again and then it may take a powerful bullish divergence to have a powerful breakout. Moving Averages: On 17 Nov the exponential moving average with time period of 10 crossed down the exponential moving average 20 and formed the death cross which leaded the price action more than 36% down but now we can see on the same day chart the EMA 10 has crossed down priceline and lifting it up and likely to form golden cross with EMA 20 very soon. Oscillators: The moving average convergence divergence (MACD) gave strong bullish signals on 21 Dec 2019 with bull cross and Stochastic had already given bull cross before MACD on 18 Dec 2019 the reletive strength index (RSI) was also oversold up til 18 Dec 2019 and then turned bullish but now all indicators are turning weak bullish and they will be turned strong bullish soon when the price correction period will be ended and it can take time until the price action hits the wedge's support or lower bands of Bollinger bands and turns bullish again. The Cloud Reversal: On 1st Dec the Ichimoku cloud was turned bearish now it is turning bullish after 24 days, the conversion line has crossed up the base line and has given bull signals but sofar the lagging span is unable to cross up the priceline therefore this bullish cloud reversal is not 100% confirmed unless the lagging span does not cross up the price line we just need to wait and see once it will move beyond the price action upwards then this bullish cloud reversal will be confirmed. The Harmonic Move: If we see on 3 day chart then it can be clearly seen that the price action of Tron has formed a perfect bullish BAT pattern let have a look how perfect this pattern is formed: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this BAT pattern now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg atleast, but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection then it can also lead to the long term bullish move. However for mid term trade we can set our targets as below: Buy between: $0.014140 to $0.013032 Sell between: $0.016840 to $0.020867 Regards, Atif Akbar (moon333)
BITFINEX:TRXUSDLong
by moon333
1
Tron (TRX) A Journey To Break Out Key Level Resistance $0.039Formation of BAT: On September 2019 the price action of Tron started the formation of bullish BAT pattern this pattern was completed on December 2019. After completion of BAT it was expected that TRX will take the bullish divergence from the potential reversals zone of this bullish BAT and it will soon enter in the Fibonacci projection area of A to D leg from 0.382 to. 0.786 Fibonacci level. Then on 4th January the TRX started moving up and first the priceline crossed up the 0.382 and then 0.786 Fibonacci projectionl. After crossing the 0.78 Fibonacci level it was expected that the priceline will use the 0.786 projection as a support and it will move up from here but unfortunately it has crossed down the 0.786 Fibonacci projection and again entered in the projection area between 0.382 0.786 level. Now the priceline is using 0.382 Fibonacci level as a support and now it is being consolidated at this level. Simple moving averages are still in golden cross: On daily chart the price action first crossed up the 100 simple moving average on 16th of January and retested this moving average as a support and moved up again and crossed up 200 SMA in the meanwhile both moving averages with the time period of 100 and 200 formed a bull cross on 1st March 2020. This golden cross was formed first time after the death cross of 9 September 2019. The movement of the priceline was powerful than the movement of the moving averages therefore the price line did not have the support of the moving averages with its movement and went very far away from SMAs therefore it was expected that soon the priceline will again drop on these moving averages and now we can see that the price line of TRX has dropped down and using 100 and 200 simple moving averages as support. Even tough we have seen a strong bearish trend from 16th of January up to 27th of February but these moving averages are still in golden cross that is very positive sign that these moving averages will not let the price action cross down and will provide strong support. Formation of new harmonic pattern: Now with the recent down trend the price action of Tron has completed another harmonic pattern and this time it has formed a bullish Shark pattern and entered in the potential reversal zone of this bullish Shark. Let's dig this pattern deeper to see how perfect this pattern is formed. After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection (here I have ignored some extra spike) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark pattern. After the completion of this bullish Shark pattern we have another strong support of the potential reversal zone and now it will be difficult for the price action to break down the support of this PRZ level. Now from here it is expected that soon priceline will be entered in the Fibonacci projection of C to D leg from 0.382 to 0.786 Fibonacci level. The push that the price action of Tron will have from this potential reversal zone can help the TRX to continue the bullish rally wich was started since Dec 2019. Long term resistance and support: On long term weekly chart we can see that Tron has strong support at $0.01277 and this support is not broken since November 2018. Now we can see recently TRX has formed a double bottom on this support and after the completion of double bottom it has hit the first resistance at $0.023 and this is also a very strong resistance because in the previous history of Tron it has been working as a support since Feb 2018. Once this resistance will be broken out then we can see that the price action move up to hit the next resistance level at $0.031 and after this resistance level we will have key level resistance at $0.039. Once this key level resistance will be broken out then the TRX can become more strong bullish to achieve the higher price ever in the history of the Tron. But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it. But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it. I will keep posting more updates on Tron.
BITFINEX:TRXUSD
by moon333
TRX Took More Than 95% Move And Turning More BullishHarmonic Bullish Shark Move: On Sep 2019 I posted that on month chart the Tron has completed a big bullish Shark pattern, the formation of this harmonic pattern was started since Sep Nov 2018 the price action of TRX was driven perfectly as required for Shark pattern as below: After inertial leg (X to A) the A to B leg was retraced between 0.382 to 0.618 Fibonacci and then B to C leg was projected between 1.13 to 1.618  of A to B leg's Fibonacci projection and final (C to D) leg was retraced between 0.886 to 1.13 Fibonacci and here the pattern was completed and price action was expected to take a powerful bullish divergence to hit the Fiboancci projection area of C to D leg between 0.382 to 0.786 Fibonacci below was the post: Harmonic Bullish BAT Pattern: In the meanwhile the price action of Tron formed another bullish BAT pattern on midterm 3 day chart and this pattern was formed within the potential reversal zone of above Shark pattern and this move confirmed that the TRX is gonna take a powerful bullish move soon, and this pattern was also very perfectly driven as below: After initial leg (X to A) the A to B leg was retraced between 0.382 to 0.50 Fibonacci and then B to C leg was projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg was retraced between 0.0786 to 0.886 Fibonacci as perfectly required for bullish BAT pattern and I posted this pattern on 16 Dec 2019 on tradingview and then on publishOx: Execution Of Both Pattern One By One: Then 1st the price took bullish divergence from potential reversal zone of BAT pattern and entered in potential sell zone of this BAT pattern and eventually the big bullish Shark pattern also executed and price action pushed more and entered in C to D leg’s Fibonacci projection between 0.382 to 0.786 Fibonacci. Now What Next? This move produced 95% big gains and after 7 months 1st powerful green heikinashi candle stick is appeared and on week chart 5 powerful green candle sticks are formed, and on week chart the candle sticks are stick with upper band of bollinger bands and the bollinger bands is being expanded and likely to pave the way for the priceline to help moving up and the Basis of bollinger bands (which is in acutal 20 moving average) is also moved up indicating that soon we can see a proper up trend on week chart. Exponential Mvoing Averages, Supports And Double Bottom Formation: Price action of Tron has crossed up the exponential moving averages with time period of 10 and 20 and EMA 10 has formed bull cross with EMA 20 and lifting the price action up. We can also see that the priceline has found a strong support at $0.012160 which is not broken since Nov 2019. Now the price action has also formed a double bottom on this support and every one know that double bottom on week chart can lead to very strong bullish rally. Ichimoku Cloud: Upto 3 day chart the Ichimoku cloud is turned bullish with lagging span has crossed up the priceline and conversion line crossed up the base line and candle sticks are likely to cross up the cloud very soon, once the priceline will cross up the cloud then the price reversal or pullback will be difficult. Simple Moving Averages: On day chart the simple moving averages with the time period of 25, 50, 100 and 200 are likely to form an opened alligator’s mouth as they formed in May 2019. Sofar the 25 simple moving average has crossed up all other simple moving averages and 50 SMA has crossed up the 100 SMA now there is a golden cross expected between 50 SMA and 200 SMA which can produce more powerful bullish move because golden cross between 50 SMA and 200 SMA is thought to be an ideal golden cross and bullish signal among the professional traders and then finally we will have a golden cross between 100 SMA and 200SMA which will lead to the completion of opened Alligator’s mouth. Bullish Continuation Pattern Is Being Formed: On day chart very interesting cup & handle pattern is likely to be formed same as like in Bitcoin's chart. The wave down and wave up are moved very soft and round shape like a real cup's body, there is no V shape or hard corners and this is a fact that as much this shape will be soft or U shape rather V or hard corner shape as much the Cup & Handle pattern will be true and confirmed. We have a price resistance level at $0.022100 and this level is also the resistance of expected cup and handle pattern. At this time the price action is hitting the resistance and from this level there can be a pull back which can lead to start the formation of handle of this cup to complete the pattern and this pull back can be temporary because this pattern is in fact a bullish continuation pattern which can lead the price action to breakout the resistance of $0.022100 then the price line may move to next resistance level at $0.029732. Soon I will post more update with more developments in TRX.
BITFINEX:TRXUSDLong
by moon333