TRONShort
TRXUSDthe right-angled and descending broadening chart pattern
The right-angled and descending broadening chart pattern beats by one percentage point the performance of right-angled ascending broadening pattern in a bull market, but more difficult to spot in the bear market and performs better in the bear market. The break even failure rate is high, though, at 20%.
Price trend can be up or down leading to the pattern. The shape looks like megaphone tilted down with the top horizontal.
The top trendline is horizontal, the bottom one slopes downward.
At least five touches total, three peaks or three valleys should touch the associated trend line with two or more touches of the other trendline. Ideally, the second of three touches will touch (instead of coming 'close' to) the trendline.
Breakout upward 63% of the time.
VERDICT:
BUY: $0.026549
SELL:$0.027761 up to $0.028909
STOP LOSS:$0.024226
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Price trend can be up or down leading to the pattern. The shape looks like megaphone tilted down with the top horizontal.
The top trendline is horizontal, the bottom one slopes downward.
At least five touches total, three peaks or three valleys should touch the associated trend line with two or more touches of the other trendline. Ideally, the second of three touches will touch (instead of coming 'close' to) the trendline.
Breakout upward 63% of the time.
VERDICT:
BUY: $0.026549
SELL:$0.027761 up to $0.028909
STOP LOSS:$0.024226
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Disclaimer
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