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Tronusdollar

TRX formed bullish BAT for upto 27% rallyHi friends, hope you are well and welcome to the new update on Tron. On the 2-day time period chart, the price action of the TRX has completed the final leg of bullish BAT and entered the potential reversal zone. There is also 100 simple moving average support below the potential reversal zone area. Possible profit and loss ratio: This trade has a profit possibility of 27.5% and the loss possibility is only 4% Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade. For exact buy and sell targets for this trade, and other harmonic trading signals you can join: www.patreon.com
Long
by moon333
1
TRX has completed bullish Cypher at strong supportHey friends hope you are well and welcome the new update on Tron Coin. On the daily chart the price action of TRX coin has broken down simple moving averages with the time period of 25, 50, 100 and 200. And having good support of 100 SMA at the moment. On the long term weekly chart the priceline has broken out SMAs with the time period of 25, 50 and 100. But there is a big distance between the simple moving averages and the price action of Tron. Therefore The priceline may consolidate at this level until atleast 25 SMA will move up to provide support. On the daily chart the price action of TRX has very good support of an uptrend line. And the 100 simple moving average is also at the same level where the this uptrend line is providing support to candlesticks. Therefore the pricline may start another rally to the upside from this trendline. On this support the price action has completed bullish Cypher pattern and entered in potential reversal zone. The targets as per Fibonacci sequence of Cypher are: Potential reversal or buying zone: $0.0244 to $0.0202 (this should be used as stop loss as well) Fibonacci projection or sell zone: $0.0277 to $0.0356 Conclusion: Even though the priceline is having very strong support of 100 SMA and the uptrendline as well, and entered in PRZ level of Cypher pattern. However, if the potential reversal zone will be broken down then a rally to the downside can be started. Therefore this PRZ level should be used as stop loss.
BITFINEX:TRXUSDLong
by moon333
1
TRXUSD has entered back in the channelHi guys and gals hope you are doing well and welcome to the new update on Tron coin. Few days back TRX coin was likely to break down the channel’s support but this week it is again entered in the channel. Even though TRX was moving down with Bitcoin and all top alts to break down the channel but the release smart contract privacy protocol was scheduled on 7th July made this week bullish for Tron coin and this week it has rallied around 21% and re-entered in channel. At this time the price action is likely to re-test the support of the channel. In case of successful re-test the price action can move up to the resistance. And after reaching at the resistance of channel TRX will gain 18% more value. Tron moved back above the EMAs: On the daily chart the price action of TRX also has broken out the exponential moving average 10 and exponential moving average 21. At this time it is again above these two EMAs. From the first week of April 2020 the exponential moving averages 10 and 21 are working as good supports for the Tron. Therefore these EMAs can be helpful for TRX to start the next upward move. The simple moving averages are broken out again: Previously the price action of TRX broke down the 25 simple moving average and in the past week it was at the support of 50 SMA. Finally the price action has again turned bullish and broke out the 25 simple moving average again. At this time the price action is above 25 simple moving average and likely retest as this simple moving average as support. The bullish candlestick is appeared at the ressitance: The price action of Tron coin is also moving in a descending triangle. And after hitting at the resistance it was likely to move down at the support. But this week we have a bullish candlestick that is again going to hit the resistance of the triangle to make another attempt for breakout. Turning from bearish to bullish at the resistance is another very positive sign in favor of bullish momentum. The price action might not re-test the previous support: If we watch the different support and resistance levels on the daily chart then TRX has the support at $0.0127. And after the rally of this week the price action is in the correction mode. But as we have the 25 and 50 simple moving averages as good supports and the price action has just broken out the 25 SMA. Therefore there will be less chances that the price action will be dropped down again at the support. Bullish Shark move: Now I would like to draw your attentions to the chart that I posted on September 2019 where I revealed that the price action of Tron has completed the formation of Shak pattern. At that time it was in the potential reversal zone of Shark. Finally the price action Tron turned bullish in January 2020 and produced more than 114% bullish rally and dropped down again in the potential revesal zone. At this time the price action is again turning bullish and moving above this PRZ level. Therefore I am expecting a sequence of the bullish candlesticks on the monthly chart that can lead the price action of TRX towards a very long term bullish rally. Conclusion: Few days back the price action of TRX was bearish on short term and on mid-term but now it is turned bullish on short term and mid-term as well. However, we should set our stop loss the support of the up channel that has been formed on the daily chart to minimize the risk factor. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITFINEX:TRXUSDLong
by moon333
1
TRXUSD a short term correction before the next bullish moveHi guys hope you are doing good. In today's article we will watch how the Tron is completing the setup for the long term bullish rally that can take the price action of TRX to $1. Up channel, moon phases and EMAs: The price action of TRX is moving within an up channel since after mid of March 2020. During this bullish move the price action of TRX is using the exponential moving averages 10 and 21 as strong support very well. Whenever the price action reaches the support of these two moving averages it takes bounce from here and reaches at the resistance of the channel. Recently from 21st May to 29th May 2020 the price action was moving sideways at the support of the channel and above the moving averages and finally it has taken another bounce and produced more than 17% rally. Here I have also placed the moon phases indicator. That is very useful to determine the bearish and bullish trends. On the chart, you can notice there are full moons and also dark moons. The distance from one moon to another moon is called a synodic cycle that is 29.5 days long. The most recent full moon has appeared below the resistance of the channel. And at this time priceline has also reached the resistance of the channel, therefore the full moon is indicating that it would be difficult for the priceline to move up more from this level. If we take a look at the most recent dark moon then it has appeared below the support of the channel. Therefore there is a possibility that the price action of Tron can reach up to that level. However, for the breakout we need that next dark moon within the channel and the new full moon should be appeared above the resistance of the channel. Simple moving averages turned more bullish: I have placed simple moving averages with the time period of 25,50, 100 and 200. The price action has crossed up all the simple moving averages. And the 25 simple moving average is moved above all other simple moving averages that is very positive move. Once the biggest time period moving average that is 200 will be moved below all other moving averages then a complete opened alligator mouth by the simple moving averages can be formed and once this alligator mouth will be completed then a strong upward move can be triggered. At this time the 50 simple moving average has almost formed a golden cross with 200 simple moving average. That is a very warm invitation to the traders as this golden cross is considered as a very strong buying signal among the traders community. A descending triangle: On weekly chart the price action of TRX is moving in a descending triangle. When I posted my previous article the price action was very close to the support now at this time the priceline of Tron has reached at the resistance. There is a very positively signal by the Bollinger bands that it has moved above the resistance of the triangle. Therefore it will be easy for the priceline to have break out. I've also placed the volume profile on the complete price action moving within this triangle that is showing the traders interest up to $0.026. That is clear indication that we have the traders interest above the level where the price action is moving at this time therefore it can be traded more higher. Priceline is moving towards next resistance level: If we watch a different support and resistance levels on the long-term weekly chart. Then it can be clearly noticed that after the strong bearish trend in the month of March 2020. The price action reached up to the support of $0.0127 and bounced from there. Now at this time the price action is moving to next resistance level of $0.023. This resistance is not broken out since it was broken down in August 2019. Then we have the next resistance level at $0.031 and if this resistance will be broken out then we have another strong resistance at $0.04 cents. And this resistance is also not broken out since after July 2018 when it was broken down. In case of breaking out the $0.04 resistance, the next resistance level is 8 cents because TRX doesn’t have any significant resistance between these two levels on long term chart. The $0.08 resistance is very strong as it is not broken out since May 29 2018. And once the priceline will be able to break out this key level resistance then within no time it can reach up to 35 cents. Because there is no significant resistance on the long-term between 8 cents and 35 cents. And if $0.35 resistance will be broken out then the price action can reach up to $1 is well. Conclusion: As at this time the price action has reached up to the resistance of the channel. Therefore there is a possibility that on short term Tron will start a correction rally up to the support of the channel. And that is at $0.015 and this is the level where the TRX has the 25 simple moving average support. However, on the long-term price action of the Tron is bullish
BITFINEX:TRXUSD
by moon333
3