Hi everyone, I hope you guys have a nice weekend with your family.
Straight into it without waste any times.
My Post:
https://www.tradingview.com/chart/TRXBTC/DIaIuv11-TRON-Pullish-Market-conditions-of-TRX-600-Potential/
First of all, I want to note down some keys Retracement and Extension.
Retracements:
- 0.00000780 - 0.00000870 ( 1 )
- 0.00000632 - 0.00000662 ( 2 )
- 0.00000452 - 0.00000547 ( 3 )
- 0.00000256 - 0.00000362 ( 4 )
Extensions:
- 0.00002572 - 0.00002604
- 0.00002816 - 0.00002953
- 0.00003233 - 0.00003393
- 0.00004474 - 0.00004683
Price Factors:
- We're in Pullish Market ( Buyers Market ).
- After a series of down move, the Price of TRON -5.38% seem like to slowing down near the Retrace ( 2 ) Area ( on a Daily Chart ).
- This Retrace ( 2 ) Area also our previous Breakout ( was our Previous Resistant level now become our new Support level on 4 Hours Chart ).
- We have a mini Support Area ( Pink Area ) showing some rejections in the past and slowing down at the moment.
- I have spotted 2 Green Arrows on the Chart that showing me the strength of the Buyers compare with the Sellers. Buyers are stronger than Sellers in short there is just 1 or 2 Candles to remove the haft of series down Candles ( Means Sellers weak and Buyers are stading by ).
- The Price seem like breaking below the Support Price Channel .
- The Price forming a Falling Wedge pattern ( Reversal pattern ) not matured but we still count it.
Indicator Factors:
- The Volume showing us the Sellers pressure continuing decrease below the average both 4 Hourse and Daily.
- The MACD now below the 0 and diagram on 4 Hours but on Daily we are going to continue the down move ( not good enough for our buy entry ).
- The Stoch RSI also in the Oversold zone on 4 Hours and Daily.
- The Price dipped below the ichimoku on 4 Hours Chart but still above on Daily.
Conclusion:
This may be that last low of down trend.
I'm still need more infomation of the next move for Trading precision.
But i'm going to take this as far as dead zone as possible and holding it.
Entry: 0.00000632 - 0.00000662 ( My main zone to take in)
-Target 1: 0.00002572 - 0.00002604
-Target 2: 0.00002816 - 0.00002953
-Target 3: 0.00003233 - 0.00003393
-Target 4: 0.00004474 - 0.00004683
Stop: 0.00000452 - 0.00000547 ( 3 ) ( I'm not place but for guys who need, better below ).
I will wait for more infomation and continue to update this post.
If you interest this please keep track, i will do as much as possible.
Happy Weekend guys
Happy Trading.