Long

TNT Descending wedge Plus TD Sequential +Targets

Updated

Big picture: TNT has Bottom with a W pattern or double bottom, broken a major descending trend line (Bear market) AND IT IS treading above all EMAs, It also has tested in several opportunities a major resistance. This is a good sign , since slowly but surely we are trading closer to this resistance and most likely we could end it up breaking it. In addition, price action has bounce from a 55 EMA and 61.80% Fibonacci , moreover, a golden cross has formed.

Close up: 1Hrs Chart is forming a falling wedge. In addition, We are in Red 9 Expecting a reversal.

Note

Note

Indicador are turning bullish

Stoch RSI just cross over, sending a signal.

MACD is a bit tricky, even tho is negative is losing momentum as it show the white bar, meaning that is starting to go up

SMII its about to cross over

Note

An ascending triangle has been forming for quite some time, TNT has pierced several times a Fibonacci level 23.60%. I am expecting it to break it anytime soon.

Note: Elliot wave theory still valid since wave 5 still trading above wave 4.

Note

Indicator: TNT feeling ready for break out SMII is forming an ascending triangles, patterns in indicator tend to be more aggressive watchout for a breakout

Note

Current Triangle: we can see how many perforations has this triangle, Not to mention it already close several times above resistance levels. The momentum indicator above are building a signal for an aggressive motion.

Note

TNT also has broken the triangle but, notice how the drop is not so aggressive and its being held by 38.20% Fibonacci level. What Im looking for its signal for reversal. then pattern formation to confirming the where we going. at the moment we are trading to break resistance I will be paying attention.

vfxvictor

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.