TRONX Price action is in Motion, what is next?Hello all,
That being said, neither I am a crypto expert, nor a fundamental researcher, I like to trade based on purely technical and price action analysis. Show me the chart then I would tell you the news.
I do not care also about the technology, I only care about what I see on the chart and try to share it with you.
Market structure:
1. Downtrend is confirmed. Be careful when People or "YouTuber," say the market now is in the bottom process. It also means that the market will go deeper and lower, then it will create the Divergence or retest the double or triple time the EMA, etc. Of course, I don't exclude the V Shape recovery.
2.
Major flow: From point 1,2,3,4,5 >> bearish.
Minor flow: From 6,7,8,9,10 >> bullish, however, notice that the resistance line is still holding the price action from the Supply sellers! This means buyers are not that stronger than sellers at the moment I am writing this post.
3. Less is more, I think that you could see there is a "highly probable" short trade set up with a 1 to 5 or even 8 risk/reward ratio. From my own "stupid" experience, please do not leverage more than x20, and please do not overtrade, because I expect that Tron price actions could be highly volatile, as long as there is no body of candles in 4H or 8H closing above the washing lines. The market will continue its first motion, Major flow >>> towards the Ultimate target!!!
Cheers, and thank you.
