$TRX/BTC - Beginning of Wave 3?

Updated

Wave 3 is never the smallest of a normal impulse 1/3/5. With confirmation of an uptrend (still pending).... here is my target window for end of Wave 3. Wave 3 will need to be at least the length of Wave 1. Puts us at 760-830 range. Could extend higher. Point 4 and 5 not set at this time.

Trade active

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From the current MACD, we could be seeing a lower low to end Wave 2.

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Still pending MACD reversal back up. Theoretically, Wave 2 could retrace into mid-400s. Hanging on so far to 540s support. Will update as MACD shows itself more.

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55 EMA above makes me hopeful. Yet, if we fall below 55 and 200, I will most likely close my long position of 547 until a clearer picture becomes available.

Trade closed manually

Lots of BTC Buy Walls at the 540s. We break below this (also 55 EMA level)... we can see a reasonable fall while then testing 200 EMA. I've closed my long position. Anticipated earlier long considering level and me being away from computer. Lost only 3 SATs... next move pending.

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Could 541 be it? MACD aligns well for wave count IF MACD moves up from here.

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Need some volume but there is some room to run. MACD pushing upwards on 15/30 min. Pending 1 hr confirm though.

Trade active

I'm ok with tasking risk... took a long position at 546. But did put in a stop loss conservatively in case as I am heading out for a bit.

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We have reached the point... MACD is looking to crossover into an incline. Could it be?

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just got home... not looking good. still in position to breakout but long delay. Volume is not there but there does seem to be interest.

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MACD is widening on 1hr and 4hr shows it is about to decline below. Good News, we can gather a better long position if things shape out thereafter. Should see some support around 470-485 but could see a steady drop to that range if it starts to lose out. 530 has strong support right now and needs to hold. Could drop to 430s.

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Could 525 be the bounce point?

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IGNORE -- Trying to do two at once... Apologies... here you go...

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bit of a drop... from 15 min chart, it looks like we are subwave 3 right now. MACD has not achieved a higher level than that of subwave 1, leading me to believe we are going to carry further here on subwave 3, before another correction.

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Dang... its late and I am trying to do two at once... that last comment was meant for XVG/BTC... Sorry...

CarlParker

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