Possible scalp play....TRX in an odd 3 drive to a bottom patternA trade plan on pure technical indicators.
Research this one before trading it ... fundamentals are not strong.
It's highly speculative.
That said:
Back to the pattern...
Not a 3 drive to a bottom textbook pattern...
but if 0.50 is theeeee bottom I tend to live
with it's shape and fibs for the wolfe wave target.
3 confluence points at 0.50 is very rare and could point to a bottom or at least a technical bounce.
RSI and the EW indicator AO showing positive divergens already from primo dec....... Yes a "d" is missing in....need :)
Volume has surged the last 2 trading days... shorts are getting out!
I see gold being in a wave 4 pennant and going for 1050/70... but see (junior) miners bottom before gold.
Short term: Bearish
Near term: Becoming bullish if 0.50 holds and divergens still in place
Long term Unsure It's a scalp play!
Safe trading ladies and gents!
@BLawrenceM
