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TRX to $0.12? Prepare for a Long!TRX continues to march into its current bull channel, pressing on for higher prices. The price just touched the channel resistance and is pulling back, but to what price? We have the previous high in the channel at $0.095 then the 30EMA and bull channel support around $0.09. How do we trade this? We're in a bull channel, which means our probability of profit is higher if we long. If you longed at the channel support every time the price made contact, you would make money. Let the trend do the talking and follow it. We should be looking for entries near two key support levels: the 30EMA and bull channel support, which is around $0.09. Do we simply long when that price is hit? Absolutely not. Wait for a strong bull signal bar closing on or near its high at those levels, confirming that the support is still being respected. Once you see that bounce, it's reasonable to enter a long, place a protective stop just below the channel support, and set your take profit somewhere in the top 20% of the channel as shown in my analysis. This gives you a 1:3 Risk/Reward ratio, meaning you could run this trade 10 times, hit your take profit 30% of the time, and still be profitable. Bitcoin is also at risk of pulling back since it's near Weekly resistance; see my recent analysis for reference. TRX RSI is also around 70.00 which is a weak indicator on its own, but supports the previous data points mentioned here. Key Points 1. Bull Channel. Look for Long Entries. 2. Channel Resistance Touched. Pullback in Progress. 3. Bitcoin Leading Indicator, Risk of Pullback. 4. RSI near 70.00, Plenty of Room to Fall. 5. Look for Bull Signal at Weekly 30EMA. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
BINANCE:TRXUSDLong
by TraderEngineering
TRXUSD: Possible Long (28.09.2020)On H4, the price found support at 0.025, where divergence was formed between the price and the RSI, indicating a temporary end to the downside movement. Besides, the price made a breakout form trend line. An upward impulse is formed on H1, which portends a possible continuation of the price growth, and the price found support at 0.026 and RSI already have reached an oversold level on 0.026. We recommend buying now, as well as when RSI will be reached oversold level.
BITFINEX:TRXUSDLong
by QubitLife
1
TRON: Analysis using Ichimoku 17/06/2020H4 At D1, the cloud is directing upward, indicating an uptrend. On H4, the cloud is directing downward, indicating the formation of a correction for D1. Conclusion: We recommend buying when the RSI reaches an oversold level on the H4. H1 At H4, the cloud is directing downward, indicating a downtrend. At H1, the cloud is directing upward, indicating the formation of a correction for H1. Conclusion: We recommend selling when the RSI reaches an overbought level on H1. Good luck!
BITFINEX:TRXUSD
by QubitLife