TRX - Short from $0.06XX area to $0.04-$0.05 levels

Hi,
This is iJustCoin, the one lucky trader who puts money where his mouth is!

This idea is an update of my previous TRX idea.

The point of the publication is to cover a potential correction from $0.06XX price area back to $0.04XX-$0.05XX levels.

Beased on 6H and 12H we may not be done with upward pressure. The price action may wick to $0.067 before going down.

You will find the rest details in the video.

If you didn't click Like - you should do that right now.

Feel free to ask me any question related to the idea in the comment section - i'll be glad to reply.

And make sure you smashed that SUBSCRIBE button!

Bye-bye!
Good Luck!

***
Chart Code:
Blue Bold Dotted Line - Decreasing of Selling Volume
Purple Bold Dotted Line - Decreasing of Buying Volume

Green Bold Dotted Line - Increasing of Buying Volume
Red Bold Dotted Line - Increasing of Selling Volume

Red Dashed Lines - Downwards Reversal Momentum
Green Dashed Lines - Upwards Reversal Momentum

Green Rectangle - Buying Area
Red Rectangle - Selling Area

Yellow Dotted Lines - Estimate Timerange of the price target might be getting hit
***

Note

Original idea

TRX - A nice short opportunity from $0.06 to $0.045

Note

Reversal momentum has shifted. You can see the time and date on the Red Lables at the lower panel (right below Red Dashed Lines).

Trade active

I entered a 1/4 size of position which is x2 Leverage right at the top of this thing.
I guess the price may wick above that high to 0.0706 area.
And i even placed a sell order at 0.074XX are in case will have something PARANORMAL.

Note

Addep up a little. x3 leverage at the moment
But don't think this is over. 6H,12H,1D RSI and LSMA are both very high.
The price may PULLBACK UP.
I guess we will have chances time to add up to our SHORT position using these PULLBACKS on the way down

Note

In case this resistance will be broken i put on the chart another level of resistance using PURPLE RECTANGLE. I scattered limits sell order around that area.

Looking at the 6H,12H and 1D this area is totally reachable at the moment.

Note

When this 90M and 3H will cross below level 50 again we will have a chance for a pullback. I can't say right now that the price will drop significantly, because Red RSI and Blue LSMA are very high at the moment.

Before price will drop SIGNIFICANTLY we should see 6H LSMA below level 50 and going down

Note

12M,24M,45M RED RSI and BLUE LSMA are below level 50
We need to see 90M below 50 in order to see an expansion down

If we are done here i will be adding up using 12M,24M,45M and 90M at the moment when Energy or Red RSI is above 70

Note

Keep in mind: 6H,12H,1D Blue LSMA are so high we might bounce back up

Note

We are testing that support line. If we go through it below you can add up to your short position on the RE-TEST of that line from below. It will be acting as a resistance since then

Note

I added up to my SHORT on the RE-TEST of that trendline from the previous update

Note

I added up once again on the of the trendline with tends to be our resistance for quite a while. I plotted A MOMENTUM with YELLOWE DASHED LINES. That means that current position of indicators is not faivoring any side: bullish or bearish.

We have A LOT of indicators around level 50 which may lead the price action to go in any direction. So we didn't rule that out just yet. I'll be ready to close my SHORT if the price action will bust through resistance.

I am totally OK with being wrong sometimes. However i hope to close my short at $0.05-$0.04 price levels and take away my money from that trade.

ijustcoin

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TRX - A nice short opportunity from $0.06 to $0.045

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Disclaimer

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ijustcoin

Related publications

TRX - A nice short opportunity from $0.06 to $0.045

by ijustcoin