Don't miss the great buy opportunity in TRXUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.014). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. TRXUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 64.
Take Profits:
TP1= @ 0.0183
TP2= @ 0.0225
TP3= @ 0.0267
SL= Break below S2
TRXUSD.PM trade ideas
There is a trading opportunity to buy in TRXUSDTechnical analysis:
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 47.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0155 to 0.0123). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0155)
Ending of entry zone (0.0123)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.0180
TP2= @ 0.0220
TP3= @ 0.0275
TP4= @ 0.0322
TP5= @ 0.0400
TP6= @ 0.0452
TP7= @ 0.0557
TP8= @ 0.0663
TP9= @ 0.0813
TP10= @ 0.10041
TP11= Free
There is a trading opportunity to buy in TRXUSDTechnical analysis:
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 38.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0145 to 0.0111). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0145)
Ending of entry zone (0.0111)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.01800
TP2= @ 0.02100
TP3= @ 0.02500
TP4= @ 0.03217
TP5= @ 0.04000
TP6= @ 0.04520
TP7= @ 0.05575
TP8= @ 0.06629
TP9= @ 0.08130
TP10= @ 0.10041
TP11= Free
There is a trading opportunity to buy in TRXUSDTechnical analysis:
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.014500 to 0.011100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.014500)
Ending of entry zone (0.011100)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.018000
TP2= @ 0.021000
TP3= @ 0.025000
TP4= @ 0.032170
TP5= @ 0.040000
TP6= @ 0.045200
TP7= @ 0.055750
TP8= @ 0.066290
TP9= @ 0.081300
TP10= @ 0.100410
TP11= Free
There is a trading opportunity to buy in TRXUSDTechnical analysis:
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.014500 to 0.011100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.014500)
Ending of entry zone (0.011100)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.018000
TP2= @ 0.021000
TP3= @ 0.025000
TP4= @ 0.032170
TP5= @ 0.040000
TP6= @ 0.045200
TP7= @ 0.055750
TP8= @ 0.066290
TP9= @ 0.081300
TP10= @ 0.100410
TP11= Free
There is a possibility for the beginning of an uptrend in TRXUSDTechnical analysis:
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.021400 to 0.018100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.021400)
Ending of entry zone (0.018100)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.025000
TP2= @ 0.027650
TP3= @ 0.032170
TP4= @ 0.040500
TP5= @ 0.045200
TP6= @ 0.050600
TP7= @ 0.055750
TP8= @ 0.066290
TP9= @ 0.081300
TP10= @ 0.100410
TP11= Free
Tron (TRX) Update 16-May-19Hi all
Good day! In my previous post , I described about Stellar short term price action that follows Inverse Head & Shoulders Pattern which is a bullish pattern. This is executed perfectly well and had a bullish breakout.
In this post, I will explain similar price action that follows the same "Inverse Head & Shoulders Pattern".
As you can see in the chart, the head and shoulders top is used to predict reversals in downtrends. This pattern is identified when the price forms left shoulder, head and right shoulder inverted with a neck line connecting the head and the shoulders . The target is equivalent to the height of the head from the neck line.
Hope you find this useful.
Follow me here , for more updates.
~RPS~
TRX / USD Price Analysis: Alone In The DarkTRON / USD Short-term price analysis
TRON has a neutral short-term trading bias, with the cryptocurrency rallying back towards its 200-period moving average on the four-hour time frame.
The four-time frame continues to show a large head and shoulders pattern, with TRX / USD buyers still unable to invalidate the bearish pattern.
Technical indicators on the four-hour time frame are bullish and continue to point to further upside in the short-term.
Pattern Watch
Traders should note that the April 16th swing-high currently offers the strongest form of near-term technical resistance for the TRX / USD pair.
Relative Strength Index
The Relative Strength Index has turned bullish on the four-hour time frame and shows scope for further upside.
MACD Indicator
The MACD indicator has turned bullish on the four-hour time frame and also shows scope for further upside.
Fundamental Analysis
Tron is making gains after its CEO Justin Sun made Binance an offer to deposit 7,000 BTC worth of USDT ($40 million USDT) to buy BNB, BTC, and TRX. This was done to ‘support’ the exchange (which had plenty in reserve) after hackers were able to withdraw 7,000 BTC from its hot wallet.
Yesterday, Justin Sun also announced that TRX will be back to Top-10 in June. Although this sounds like an attempt to pump the coin, it is still possible that Sun knows more than the rest of the market.
It is also possible that Sun continues to spout hype instead of substance. Last night’s ‘generous’ offer to cover the 7,000 BTC security breach at Binance, seems to be another of his thinly-disguised and regular taunts at other cryptocurrency community members.
Sun’s regular trolling of Ethereum figures, and his go-it-alone philosophy, may pay dividends if he can create substantial adoption of the cryptocurrency – or it may backfire, leaving TRON isolated in an industry that values partnerships.
TRON / USD Medium-term price analysis
TRON has a bullish medium-term outlook, with the TRX / USD pair moving back towards key trendline resistance on the daily time frame.
Bullish MACD price divergence is still evident on the daily time frame, which could be reversed if the bullish inverted head and shoulders pattern on the mentioned time frame is triggered.
Technical indicators on the daily time frame are starting to turn bullish, following the latest rally in the TRX / USD pair.
TRX / USD Daily Chart by TradingView
Pattern Watch
Traders should note that the June 21st, 2018 swing-high is the initial upside target of the inverted head and shoulders pattern on the daily time frame.
Relative Strength Index
The RSI indicator is still bullish on the daily time frame and shows scope for further upside.
MACD Indicator
The MACD indicator on the daily time frame has turned bullish and is generating a buy signal.
Fundamental Analysis
In the medium term, the project looks speculative. Although it deploys an aggressive marketing strategy, its technology still suffers from security flaws. For example, the recently discovered security breach could have been used to shut down the network with just one computer.
Conclusion
TRON is attempting to recover bullish trading momentum, with short-term buyers now needing to rally the TRX / USD pair even higher to invalidate the bearish pattern on the four-hour time frame.
If buyers can ignite the inverted head and shoulders pattern on the daily time frame a bullish technical breakout rally is likely to occur over the medium-term.
TRX / USD Price Analysis: Resisting PressureTRON / USD Short-term price analysis
TRX has a bearish short-term trading bias, with the cryptocurrency now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows the presence of a head and shoulders pattern with the TRX / USD pair edging towards the neckline of the bearish pattern.
Technical indicators on the four-hour time frame are bullish and continue to point to further upside in the short-term.
Pattern Watch
Traders should note that the TRX / USD pair could fall to a new 2019 trading low if the head and shoulders pattern on the four-hour time frame is triggered.
Relative Strength Index
The Relative Strength Index has turned bullish on the four-hour time frame and shows scope for further upside.
MACD Indicator
The MACD indicator has turned bullish on the four-hour time frame and is currently issuing a buy signal.
TRON / USD Medium-term price analysis
TRX has a bullish medium-term outlook, with the TRX / USD pair still maintaining price above its key 200-day moving average.
The daily time frame continues to show a large inverted head and shoulders pattern, with bullish MACD price divergence still evident from June 2018.
Technical indicators on the daily time frame are attempting to stabilize following the recent decline in the TRX / USD pair.
TRX / USD Daily Chart by TradingView
Pattern Watch
Traders should note that the June 21st, 2018 swing-high is the upside target of the inverted head and shoulders pattern on the daily time frame.
Relative Strength Index
The RSI indicator is still bearish on the daily time frame, although it is attempting to recover higher.
MACD Indicator
The MACD indicator on the daily time frame is flat and is currently failing to generate a clear trading signal.
Conclusion
TRX is under pressure in the short-term, with the bearish pattern on the four-hour time frame issuing a warning that the cryptocurrency could still decline further.
The prospects for the TRX / USD pair remain bright, with the inverted head and shoulders pattern and the presence of bullish MACD divergence on the daily time frame still pointing to more upside over the medium-term.
Tron's latest analysis
TRON Latest Price Analysis- Feb 8, 2019- Bittorrent Airdrop Effect On Tron's Price Fading?
#1 Key Highlights
* TRX/USD price surged 10+% and in downside correction.\u2028
* $0.02554 support level broken.\u2028
* TRX/USD closed below 200-4H Moving Average (MA) after breaking it.\u2028
* Tested Ichimoku cloud's resistance but couldn't sustain it above.\u2028
#2 TRON Latest Price Analysis – Hourly (4H) Chart TRX/USD
Tron technical analysis today shows that it broke the short-term downtrend line(black) but couldn't sustain above it longer.
Let's look at the insights of Tron price analysis 2019 on its Hourly (4H)-timeframe chart.
TRX/USD moved 10%+ but it has been under downside correction for the past few days.It could be because of the Bittorrent airpdrop ,dated 11th February'2019, got over.
It tried to challenge the 200-4H Moving Average(MA) recently but couldn't sustain over it longer.Other bearish signs could be seen is that it closed and traded below ichimoku's cloud after testing it recently.
The short-term downtrend line (black), since 4th February ' 2019, needs to be broken in order to test the immediate resistance (red bar) around $0.026+. It has been testing the $0.026+ immediate resistance for the past two days. Tron's Elliott wave theory depicts that we are in the last wave of its complete cycle.
Also the previous support around $0.2539-$0.2558 broke which might lead to support turned resistance(S/R flip).
MACD is slightly turning bullish as well as Stoch-RSI is in oversold zone forming a bullish divergence which might cause the price jump in the coming days.But challenging S/R flip area along with immediate resistance(red bar) is necessary for Tron analysis meaning with bullish sentiments.
#3 Conclusion
Overall, TRON(TRX/USD) is under pressure after the BTT airdrop timeline got over and needs another catalyst to boost the price action in upward direction.
Detailed Elliott Wave Count of TRXUSD
A correct Elliott wave count must observe three rules:
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.
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There is a possibility for the beginning of an uptrend in TRXUSDTechnical analysis:
. TRON/DOLLAR is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 34.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
Trading suggestion:
. Price is in the support zone (0.030 to 0.025), traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.030)
Ending of entry zone (0.025)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0346
TP2= @ 0.0405
TP3= @ 0.0435
TP4= @ 0.0506
TP5= @ 0.0557
TP6= @ 0.0643
TP7= @ 0.0729
TP8= @ 0.0820
TP9= @ 0.1005
TP10= Free
A trading opportunity to buy in TRXUSDTechnical analysis:
. TRON/DOLLAR is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support zone (0.034 to 0.030). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.034)
Ending of entry zone (0.030)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0405
TP2= @ 0.0435
TP3= @ 0.0506
TP4= @ 0.0576
TP5= @ 0.0658
TP6= @ 0.0739
TP7= @ 0.0820
TP8= @ 0.1005
TP9= Free
Don't miss the great hunting opportunity of TRXETHTechnical analysis:
TRON/ETHEREUM s in a range bound and beginning of uptrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 45.
Trading suggestion:
The price is in a range bound but we forecast the uptrend would begin.
There is a possibility of temporary retracement to suggested support zone (0.000090 to 0.000076). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.000090 )
Ending of entry zone (0.000076)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.000104
TP2= @ 0.000145
TP3= @ 0.000319
TP4= Free
Tron would probably resume its uptrend againTechnical analysis:
TRON/DOLLAR s in a range bound and resumption of uptrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 44.
Trading suggestion:
The price is in a range bound but we forecast the uptrend would resume.
There is a possibility of temporary retracement to suggested support zone (0.0562 to 0.0516). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.0562)
Ending of entry zone (0.0516)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0642
TP2= @ 0.0780
TP3= @ 0.1005
TP4= Free
TRX/USDTRON (TRX/USD) is analyzed and it's important to emphasize that the /USD pair is my primary mode of analysis because it has a single variable; the change in demand for the coin. The /BTC has TWO variables; the change in coin demand and rate of change in BTC price. THIS difference makes the /BTC pair chart LAG the /USD pair; especially during the uptrend. IF the coind does not have a /USD pair on exchange; I STILL analyze on USD chart and then translate this into the /BTC equivalent but the buy/sell actions are still modulated by the USD price analysis. I've explained this before but with many new comers, please review my tutorials for more details.
TRON (TRX/USD) is carving out what seems likely to be a bowl or cup formation. Price action thus far shows that the Hurry Up & Wait syndrome is still in progress. The correction often goes a bit sideways during the bottom of the pattern. The white vertical line shows the half way point and since it's been passed; the remaining waves 3,4 and 5 are likely to start putting in the righ wall side of the cup formation. The target is $0.19 in this
Closeup shows that the Ascending Right Triangle pattern is still valid; so live and kicking. It has actually progressed since last update as shown by the blue arrow line. Price is expected to be entrapped within the triangle contracting lines and as it becomes more proximal to the Apex, the breakout strength should only build. For this pattern to remain valid, the lower white line support must hold.When a pattern becomes embedded within a larger pattern; it's quite bullish. The Ascending Right triangle is shown to be embedded with a larger symmetrical. Volume decline can also be noted as confirmation. More proximal price is to the Apex; more likely the breakout time will occur. Let's see what happens the next few days. For this pattern to remain valid, the lower white line support can't be breached decisively.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind.