TRBUSDT trade ideas
📊#TRB double top short target has been achieved⚠️short➡️We seem to be in a long correction after a big rally, but we are still in bull strength overall.📈
➡️The bullish defensive point below is crucial, and if it is broken, then it will start a larger correction. I hope we can hold it successfully.💪
➡️If we choose to continue to rise, then a break through the ultra-short-term bear defense will open the upward path.📈
Let's see👀
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Tellor TRB – Last impulse Before a CorrectionTRB Close to a Peak:
TRB had an amazing run but, IMO, it is almost at its peak. These are the reasons why:
1. TRB’s impulsive wave up, beginning on August 25th, shaped into a Rising Broadening Wedge. According to Murphy (1999), the Broadening wedge is indicative of a market top. The wide price and volume expansion represents emotional traders.
2. There is a pronounced bearish divergence on the daily chart. The divergence signifies that the bulls are close to exhaustion.
3. The RSI value on the weekly chart is more than 87. IMO, this level is unsustainable, and TRB will have to correct for the indicator to cool off.
Current Situation:
Currently TRB cleared a weekly supply zone and, it is trying to break through the weekly resistance level of 47.8.
Next Resistance Level:
The next levels TRB has to face are:
1. weekly supply zone between 59 to 73.
2. weekly resistance at 79.2
Wave count:
I do not consider myself an EW expert. However, this count is, IMO, correct. If anyone reading this has any suggestions or corrections, please share.
According to my count, in this impulsive wave, we completed four waves and now we are at the beginning of wave five. The common target for wave five is the 0.618 extension of waves 1-3 which is at 69.85. This fits nicely with the supply zone and the weekly resistance.
From a trading perspective the count doesn’t change much but it has nice confluence.
Short Trade Idea:
I do not have a specific entry, SL, and target, yet.
I will be watching for a violation of the wedge’s support line or at the resistance lines to enter a short trade.
I am curious to know if anyone else shares my opinion. Please share in the comments
Best Wishes
TRBUSDTI'm looking for short position from now where the target u can see in the screen.
If the price reach the white line (Big support) we gonna search for long position with sl and tp as u see in the screen.
for this idea as usual I used Fibo+volume
This not a financial advise. make ur research and ur own decision.
If u like the ideas u can follow me.
TRB, time to SHORT? BINANCE:TRBUSDT.P
TRB is in a big triangle, it will test the trendline soon.
We can try to open a SHORT position when it touches the trendline.
This setup is a bit risky , please handle your own risk management.
Enjoy!
Follow me for more chart analysis.
Patience is the key to success.
DYOR
Infinity bullets of Market MakersIn the world of crypto trading, time is a precious commodity that can wield a double-edged sword. It can either enact profitable victories or trigger crushing defeats. This is particularly poignant for BINANCE:TRBUSDT.P which has grown by a staggering 250% over the last 24 days. 50% in the recent 30 hours.
But BINANCE:TRBUSDT.P is now a gambling game, and is not recommended for trader with healthy risk management.Here is some reasons why :
- price gaps created between spot and futures
- Binance charges a stunning 2 to 2.5% funding fee every 8 hours.
- long and MM's infinity bullets provided by exchanges funding fees, 7% every day by controlling almost 40% of the equity. means apex will never end if either long army or MM pyramid their orders.
- every time the funding fee is charged, could lead to a big fall, because the fee gap attracts outside traders came for the funding fee hour hold 5 seconds, and release. but you will never know which one is the one.
- is not price action control the movement anymore
- short army not killed by long army, they get killed by the times.
- abnormal growth,(no retracement ,pure apexing pump,is not even a bull market).
- leaves no normal structure trails, like engulfing candles.
- you don't know when the pump is going to end, because there's no TA fit the current situation. makes both sides gamblers.
- every long is now risky trade, and short for liquidation nightmare
do you think my analysis is correct? if not, and you are still holding or just opened a short position -- i dare you to take a nap:)
📊#TRB continues to rise, where are the possible target areas❓➡️The TRB experienced a brief correction after a sharp rise, and began to rebound after gaining support at a key support range. As I mentioned in the previous post, our near-term short target has been basically achieved, and we have also informed everyone to leave the market with all profits. 💰🍻
🧠 Now we have reached the short defense zone, and we have broken the short defense point of the small double top structure, if we can break the whole short defense zone, then we can go to the challenge high 💪🏻
Let's see👀
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#TRB/USDT 5D (Binance Futures) Big descending wedge breakoutTellor Tributes printed a shooting star which probably marked the local top on that supply zone.
RSI is quite overbought, a retracement down to 200MA at least would make sense.
⚡️⚡️ #TRB/USDT ⚡️⚡️
Exchanges: ByBit USDT, Binance Futures
Signal Type: Regular (Short)
Leverage: Isolated (2.0X)
Amount: 4.7%
Current Price:
38.512
Entry Zone:
38.997 - 44.129
Take-Profit Targets:
1) 30.911
1) 22.890
1) 14.868
Stop Targets:
1) 50.476
Published By: @Zblaba
LSE:TRB BINANCE:TRBUSDT.P #Tellor #Tributes #Oracle #Web3 tellor.io
Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0
Expected Profit= +51.3% | +89.9% | +128.5%
Possible Loss= -42.9%
Estimated Gaintime= 3-9 months
TRB shortBINANCE:TRBUSDT
i am personally short position in TRB, because it is fundamentally weak coin, i think this is fake pump and bull trap, top position should be 46$ but all bulls will be trapped when investors will get profit and sell coins, we can see this coin at its all time low ATL position in very near future, this is not a financial advise, trade at your own analysis
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