TRX-USDT [Possible (1W) Multi-Confluential C&H Pattern forming]Trx has been one of the few major cryptos seeing consistent gains recently, with a possible chance for higher price points to occur heading into Q1 of 2025. Currently looking for an open & close on the daily above the current resistance. On the chart I have made note of a few small possible price points including a possible DT, as well as some other areas of resistance which could potentially invalidate the C&H. Just figured it couldn’t hurt to throw this possibility out there in case anyone was looking for some price action other than BTC, which is usually what I stick too. But with very little market volatility currently hindering BTC for people such as myself who focus on HT swing trades and less day trading than the typical degen usually scouring the TradingView chats, I’ve started going thru all my old charts searching for better price action. This just happened to be the first one I went over. TBH, I do not trade C&H often, but with this Target breakout finding confluence with multiple other High-Interest Areas on a timeframe such as the weekly, it was hard to completely ignore. I am going to analyze a few more charts and hopefully find even better price action where I will be looking to use my more typical TA methods, and will definitely publish if I find any others. As always, remember BTC is the leader of crypto. And the S&P, the DJ, and the other heavy hitters in the traditional markets are the masters of BTC. That means if the markets take a dump, all of crypto will go with it regardless of the TA. And if BTC takes a dump for whatever reason, expect most of crypto to follow suit. Especially larger coins such as TRX, and any of the other top 50-100 cryptos. If anyone has any questions about this chart and how I reached the stated theory, please feel free to reach out and contact me.
Trade safe, trade smart, and always remember it doesn’t matter what you know; the only thing that separates winners and losers is understanding Risk/Reward, knowing when to stay and to walk away, and the discipline to treat every trade as if it were a real job, not a casino. It took me the first 3 years of losing everything I put in, until I finally figured out how to control my discipline within to start capitalizing from trading. If you are new to trading, or have been trading a little while, and just can’t seem to make money consistently no matter what you have tried, reach out to me. I am not trying to sell anything. I truly just wish someone had personally reached out to me the first years that I got into the markets. It could have saved me so much headache and anxiety and stress in my life. I will always keep that feeling of absolute despair buried deep in my conscience. And if i can help anyone out there from going thru what I went thru, I would do so in a second.
- Alexander Thaddeus, B.Sc. BioMath, IABAC.
