TRXUSD on the daily time frame has been on a long term trend line (Uptrend) from its initial days. Breaking its biggest down trend in its entire lifetime on 20 Dec 2018, It is getting close to the same lifetime uptrend after a long time.Also the chart signifies in the last 80 days people believe TRXUSD worth more than 0.022 Cents, making this region as a support zone. Being close to support zone & the uptrend line,the Stop Loss & the Targets make a good Risk/Reward Ratio (At least 3.77 for first TP). I believe these are sufficient reasons for a Chartist to take a position. Stop Loss & the Targets are clear in the chart. please zoom for clarification. Aqua lines with numbers are important lifetime Fibonacci levels.
Remember Money management is one of the essential keys to success in Trading.
Good Luck ;) .
Note
Target 1 Achieved. 31 % Profit. ;)Note
Target 2 Achieved. 43% Profit. ;)Note
Target 3 Achieved. 60 % Profit. ;)Trade closed: target reached
Target 4 Achieved. 80.5 % Profit ;)
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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.