Hourly The Trend Bias
The hourly chart showed a significant pressure on the possibility of correction. It peaked on March 31, 2021 at 0.09756.
TRXUSDT is I think facing a correction and I will take it as a short trading opportunity.15 Minute - Then Entry trigger
The 20 moving average may soon cross the 200 moving average as shown in the 15 minute timeframe. If that happens, the downtrend may continue. Another indication that the correction may continue is the confirmation 2 indicator in 15 minute timeframe.
Trade active
My 0.08675 limit order has been hit. this trade is now activeNote
Exit Signals1 Hour
Confirmation 1's RSI cross SIGNAL
Confirmation 2's RSI cross SENTIMENT
15 Minute
20 MA cross will not happen
Confirmation 2's SENTIMENT will not continue going down below zero or RSI crosses UP to SENTIMENT
Note
Confirmation 1's RSI cross SIGNAL and a BUY signal is showing. If at the close of the candle the buy signal is confirmed, then the next exit signal is when the RSI of C2 crosses the SENTIMENTTrade closed: stop reached
Exit signal AND stop loss hit.
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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.