Tron (TRX) A Journey To Break Out Key Level Resistance $0.039Formation of BAT:
On September 2019 the price action of Tron started the formation of bullish BAT pattern this pattern was completed on December 2019.
After completion of BAT it was expected that TRX will take the bullish divergence from the potential reversals zone of this bullish BAT and it will soon enter in the Fibonacci projection area of A to D leg from 0.382 to. 0.786 Fibonacci level. Then on 4th January the TRX started moving up and first the priceline crossed up the 0.382 and then 0.786 Fibonacci projectionl. After crossing the 0.78 Fibonacci level it was expected that the priceline will use the 0.786 projection as a support and it will move up from here but unfortunately it has crossed down the 0.786 Fibonacci projection and again entered in the projection area between 0.382 0.786 level. Now the priceline is using 0.382 Fibonacci level as a support and now it is being consolidated at this level.
Simple moving averages are still in golden cross:
On daily chart the price action first crossed up the 100 simple moving average on 16th of January and retested this moving average as a support and moved up again and crossed up 200 SMA in the meanwhile both moving averages with the time period of 100 and 200 formed a bull cross on 1st March 2020. This golden cross was formed first time after the death cross of 9 September 2019. The movement of the priceline was powerful than the movement of the moving averages therefore the price line did not have the support of the moving averages with its movement and went very far away from SMAs therefore it was expected that soon the priceline will again drop on these moving averages and now we can see that the price line of TRX has dropped down and using 100 and 200 simple moving averages as support. Even tough we have seen a strong bearish trend from 16th of January up to 27th of February but these moving averages are still in golden cross that is very positive sign that these moving averages will not let the price action cross down and will provide strong support.
Formation of new harmonic pattern:
Now with the recent down trend the price action of Tron has completed another harmonic pattern and this time it has formed a bullish Shark pattern and entered in the potential reversal zone of this bullish Shark.
Let's dig this pattern deeper to see how perfect this pattern is formed.
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection (here I have ignored some extra spike) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark pattern.
After the completion of this bullish Shark pattern we have another strong support of the potential reversal zone and now it will be difficult for the price action to break down the support of this PRZ level. Now from here it is expected that soon priceline will be entered in the Fibonacci projection of C to D leg from 0.382 to 0.786 Fibonacci level.
The push that the price action of Tron will have from this potential reversal zone can help the TRX to continue the bullish rally wich was started since Dec 2019.
Long term resistance and support:
On long term weekly chart we can see that Tron has strong support at $0.01277 and this support is not broken since November 2018. Now we can see recently TRX has formed a double bottom on this support and after the completion of double bottom it has hit the first resistance at $0.023 and this is also a very strong resistance because in the previous history of Tron it has been working as a support since Feb 2018. Once this resistance will be broken out then we can see that the price action move up to hit the next resistance level at $0.031 and after this resistance level we will have key level resistance at $0.039. Once this key level resistance will be broken out then the TRX can become more strong bullish to achieve the higher price ever in the history of the Tron.
But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it.
But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it. I will keep posting more updates on Tron.
Tronusdt
Technical Alert : TRON/USDT at EMA50Daily chart:TRON/USDT at EMA50.
0.1820/0.1710 Fib support zone.
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TRX Took More Than 95% Move And Turning More BullishHarmonic Bullish Shark Move:
On Sep 2019 I posted that on month chart the Tron has completed a big bullish Shark pattern, the formation of this harmonic pattern was started since Sep Nov 2018 the price action of TRX was driven perfectly as required for Shark pattern as below:
After inertial leg (X to A) the A to B leg was retraced between 0.382 to 0.618 Fibonacci and then B to C leg was projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg was retraced between 0.886 to 1.13 Fibonacci and here the pattern was completed and price action was expected to take a powerful bullish divergence to hit the Fiboancci projection area of C to D leg between 0.382 to 0.786 Fibonacci below was the post:
Harmonic Bullish BAT Pattern:
In the meanwhile the price action of Tron formed another bullish BAT pattern on midterm 3 day chart and this pattern was formed within the potential reversal zone of above Shark pattern and this move confirmed that the TRX is gonna take a powerful bullish move soon, and this pattern was also very perfectly driven as below:
After initial leg (X to A) the A to B leg was retraced between 0.382 to 0.50 Fibonacci and then B to C leg was projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg was retraced between 0.0786 to 0.886 Fibonacci as perfectly required for bullish BAT pattern and I posted this pattern on 16 Dec 2019 on tradingview and then on publishOx:
Execution Of Both Pattern One By One:
Then 1st the price took bullish divergence from potential reversal zone of BAT pattern and entered in potential sell zone of this BAT pattern and eventually the big bullish Shark pattern also executed and price action pushed more and entered in C to D leg’s Fibonacci projection between 0.382 to 0.786 Fibonacci.
Now What Next?
This move produced 95% big gains and after 7 months 1st powerful green heikinashi candle stick is appeared and on week chart 5 powerful green candle sticks are formed, and on week chart the candle sticks are stick with upper band of bollinger bands and the bollinger bands is being expanded and likely to pave the way for the priceline to help moving up and the Basis of bollinger bands (which is in acutal 20 moving average) is also moved up indicating that soon we can see a proper up trend on week chart.
Exponential Mvoing Averages, Supports And Double Bottom Formation:
Price action of Tron has crossed up the exponential moving averages with time period of 10 and 20 and EMA 10 has
formed bull cross with EMA 20 and lifting the price action up.
We can also see that the priceline has found a strong support at $0.012160 which is not broken since Nov 2019.
Now the price action has also formed a double bottom on this support and every one know that double bottom on week chart can lead to very strong bullish rally.
Ichimoku Cloud:
Upto 3 day chart the Ichimoku cloud is turned bullish with lagging span has crossed up the priceline and conversion line crossed up the base line and candle sticks are likely to cross up the cloud very soon, once the priceline will cross up the cloud then the price reversal or pullback will be difficult.
Simple Moving Averages:
On day chart the simple moving averages with the time period of 25, 50, 100 and 200 are likely to form an opened alligator’s mouth as they formed in May 2019.
Sofar the 25 simple moving average has crossed up all other simple moving averages and 50 SMA has crossed up the 100 SMA now there is a golden cross expected between 50 SMA and 200 SMA which can produce more powerful bullish move because golden cross between 50 SMA and 200 SMA is thought to be an ideal golden cross and bullish signal among the professional traders and then finally we will have a golden cross between 100 SMA and 200SMA which will lead to the completion of opened Alligator’s mouth.
Bullish Continuation Pattern Is Being Formed:
On day chart very interesting cup & handle pattern is likely to be formed same as like in Bitcoin's chart.
The wave down and wave up are moved very soft and round shape like a real cup's body, there is no V shape or hard corners and this is a fact that as much this shape will be soft or U shape rather V or hard corner shape as much the Cup & Handle pattern will be true and confirmed.
We have a price resistance level at $0.022100 and this level is also the resistance of expected cup and handle pattern.
At this time the price action is hitting the resistance and from this level there can be a pull back which can lead to start the formation of handle of this cup to complete the pattern and this pull back can be temporary because this pattern is in fact a bullish continuation pattern which can lead the price action to breakout the resistance of $0.022100 then the price line may move to next resistance level at $0.029732.
Soon I will post more update with more developments in TRX.
Tron to go for another upswingHi Traders
Looks like Tron will go for another upswing on TRXUSDT 4h. In a continuos uptrend since 3. January (on the chart since 10th but thats for visual reasons) bulls will probably push up further.
How far can you expect it to go? As shown on the chart first TP should be the top of the last upswing. The second TP could be put on 1.272 of the fix extension. If you are risk hungry you could even run it higher and check if it is going back to hights of November 2019, but don't miss to adjust SL.
TRXUSD formed bullish BAT | Upto 60% bullish movePriceline of Tron / US Dollar cyptocurrency has formed a bullish BAT pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.014140 to 0.013032
Sell between: 0.016840 to 0.020867
Regards,
Atif Akbar (moon333)
TRXUSD forming bullish Butterfly | Upto 16% move aheadPrice action of Tron / US Dollar is forming bullish Butterfly pattern and soon it will be entered in potential reversal zone.
This PRZ area can be used as stop loss point in case the complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.0179029 to 0.0174975
Sell between: 0.0188696 to 0.0203180
Enjoy your profits and regards,
Atif Akbar (moon333)
TRON SET TO SOAR TO NEW ATH'sCall me crazy but I like trading fractals. I believe Tron is poised for a major run to new ATH. We are making a nerve-wrecking third higher low trying to claw our way out of this grizzly bear market. On this weekly chart we see the 4 candles which brought us to our cyclical low and subsequent bounce in Nov-Dec '18 looking awfully similar to what has been going on over the last 3 weeks. The nice part about this is the fact that we are still respecting the ever-so-slight uptrend started at the end of last year. The RSI also looks very similar, making what will inevitably (if I am right) be a "W" shape. The sentiment zone oscillator is looking ready for a move as well. I believe within the next two weeks we will see a test of the downwards trending ceiling at about 2.5 cents. If that ceiling is taken out, we are off to the races. If we fail to break it over the course of a couple weeks we will test back down trying to respect the uptrend and continuing to wedge in between the white lines. Given where I think this market currently is, I believe we are in for a big move and I am biased to the upside.
Let me know what you think, even if you are one of the Trading View slime-balls who lurk in the shadows talking trash and trying to leach ideas while having none of your own.
* I am trying to gain a following to spread some ideas. A follow, like, and comment would be very much appreciated
G*D BLESS
TRX ON THE EDGE...Tron has clear downtrend. Even little push not carry to the upside. It has corrective measurement. (A to the B on the chart)
Clear 3 waves to the upside means corrective move.
If last line of defence (0.01096) won't hold, its obvious that we have new local low.
It is possible to test median line of falling channel. Still has some time.
In other words it means great buy opportunity will come.
Follow, share and like for more. Thanks.
TRXUSDT formed bullish Shark | A good long opportunityPriceline of Tron / Tether UScryptocurrency has formed a bullish Shark pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.01853 to 0.01817
Sell between: 0.01895 to 0.01979
Regards,
Atif Akbar (moon333)
TRXUSD forming bullish Shark | A long opportunity a headPriceline of TRX / US Dollar cryptocurrency is forming bullish Shark pattern and soon it will be entered in potential reversal zone.
This PRZ area should be used as stop loss point in case of complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.01863 to 0.01823
Sell between: 0.01916 to 0.02015
Regards,
Atif Akbar (moon333)
TRXUSD forming bullish Shark | A long opportunity aheadPriceline of Tron / US Dollar cryptocurrency is forming bullish Shark pattern and soon it will be entered in potential reversal zone.
This PRZ area should be used as stop loss point in case of complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.019289 to 0.019038
Sell between: 0.019579 to 0.020152
Regards,
Atif Akbar (moon333)
TRXUSD has formed bullish BAT | Upto 24% setupPriceline of Tron / US Dollar cryptocurrency has formed a bullish BAT pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.013896 to 0.013428
Sell between: 0.015011 to 0.016686
Regards,
Atif Akbar (moon333)
TRXUSD formed bullish Shark | A good long opportunityPriceline of Tron / Tether UScryptocurrency has formed a bullish Shark pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.01596 to 0.01564
Sell between: 0.01634 to 0.01710
Regards,
Atif Akbar (moon333)
TRXUSD formed a bullish CRAB pattern | A good long opportunityIn my previous chart I published a BAT pattern but the price action has extended the leg and formed a bullish bulish CRAB pattern therefore I have revised the targets using Fibonacci sequence as below:
Buy between: 0.014964 to 0.014626
Sell between: 0.015227 to 0.015863
Regards,
Atif Akbar (moon333)
TRXUSD formed BAT pattern | A good long opportunityPriceline of Tron / Dollar has formed a bullish BAT and almost entered in potential reversal zone to hit the sell targets soon insha Allah.
Volume profile is showing less interest of traders within potential reversal zone.
MACD is still strong bearish and stochastic did not give any bull cross sofar therefore I would suggest to wait for MACD to turn weak bearish or for stochastic bull cross signal then buy.
I have defined targets using Fibonacci sequence:
Buy between: 0.015435 to 0.015338
Sell between: 0.015667 to 0.016016
Regards,
Atif Akbar (moon333)
TRXUSD has formed bullish cypher | Upto 120% profit potentialPriceline of TRON / US Dollar has formed a bullish cypher pattern and entered in potential reversal zone.
From here the price action can move up to hit the sell targets soon insha Allah.
I have defined the targets using Fibonacci sequence and the targets are:
Buy between: 0.02357392 to 0.01776023
Sell between: 0.02815054 to 0.03913925
Regards,
Atif Akbar (moon333)