TRXETH trade ideas
Just an IdeaElliott wave 1-5 in red roughly following all the rules, followed by ABC correction ending at previous 4, with a hopeful 1-5 meeting previous trend lines?
My first post, so you probably shouldn't use this as advice.
Happy to hear where I am wrong (other than not being able to see into the future)
Tron Bullish AFThis chart inside the 1-3 minute timeframe is a Beautiful Fractal of the TRX/ETH BInance All-time chart. Looking like a Break out of 0.11 USD coming (at lease for a bit short term), Bulls will need to show up if we want to push upwards and develop an equilibrium @ 0.15 USD. These are just short term price action predictions, play your positions wisely.
(TRX/ETH) The Start Of An Uptrend?Tron has been in a down trend since January 5th, after creating all time highs. We seem to have found solid support levels and more buyers are entering the market. Just recently we have broken a down-trend trend line. There is an up-trend channel forming. I'm currently bullish anywhere from 0.000095 to 0.000075. I personally feel there are 2 entry points for anyone looking to enter the market.
Entry 1:
- Retest of the Trend Line
Entry 2: (If Support and Channel Fail)
- If the support and channel fail, I will look to enter again at the 0.000075 level.
Targets:
- I believe targets for this trade depend on what your plans are.For instance, do you want to hold, or buy and sell the channel?
What Do You Think?
- What do you think? Are you bullish/bearish on TRON? Why?
Please remember this is simply an idea, so treat it as such. I'm not saying anyone should invest their money based upon my ideas, do your own research first. This is simply to see what others opinions are and provide food for thought.
Happy Trading!
TRON (TRX/ETH) potential bullish breakoutTRX hit a strong line of support today at 0.000075 ETH and seems to have bounced off, possibly presenting a change in the market sentiment. As TRX nears the convergent point of the triangular pattern shown in pink it looks poised to break out; the MACD indicator is showing bullish divergence, a fairly clear bullish head and shoulders pattern has formed on the 30 minute chart and ADX lines just crossed upwards. I would be very surprised if TRX breaks downwards and I think a mass sell-off would ensue as people would start to abandon ship - a stop loss at around 0.00007 ETH is vital for anyone initiating a long position. I think a trailing stop loss instead of any upward target points would be the best strategy here.
Also worth noting that TRX's partnership with Baofeng (NASDAQ listed) was recently announced and this is likely to add to buying pressure. However, proceed with caution.