TRON ($TRX) - 𝘑𝘶𝘴𝘵𝘪𝘯 𝘚𝘶𝘯, 𝘔𝘰𝘳𝘦 𝘓𝘪𝘬𝘦 𝘑𝘶𝘴𝘵𝘪𝘯 𝘔𝘰𝘰𝘯.
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Greetings! Today we are going to have a look at everyone's favorite altcoin (at least according to Justin Sun) TRX. Right now we are in an uptrend testing the top of the channel illustrated on the chart. Can we get a breakout and send this Sun coin to the moon?
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1. Fractal Trend is showing an uptrend (Green background color) for TRX on the four hour chart.
2. Breakaway Scalper is currently neutral (Grey bar color), so we have no trade yet.
3. With this strategy we enter long ONLY when Fractal Trend shows a Green background and Breakaway Scalper shows a Green bar color. We enter short on opposite conditions (Red on Red) and otherwise want to be in cash.
4. What we are looking for a long signal from Breakaway Scalper. You can see that not every signal from this strategy has been a big winner, but when we get continuation the winners more than make up for the losers. Either way we will have a stop loss (Yellow line) in place to limit our risk.
5. Our first target, assuming we get our long signal, is the top of the channel and the bearish orderblock at R1.
6. Mid-term targets above that are R2 and R3, which were formed from the previous price action before the dump in March.
7. For support we are really only looking at the local support at S1, because any level below that compromises the uptrend... and the last thing we are going to do is look for long position in an altcoin in a downtrend.
8. Factors working in TRX's favor here are the many new ventures of Sun and company like Steem / Hive, the general hype he tends to bring, AND some overall strength in both the BTC and altcoin markets recently (not to mention the uptrend in equities where there has been some correlation with crypto recently). On the other side of things, weakness in any of those markets could jeopardize TRX too.
Like and Follow to help us grow family! 🎉
---
Greetings! Today we are going to have a look at everyone's favorite altcoin (at least according to Justin Sun) TRX. Right now we are in an uptrend testing the top of the channel illustrated on the chart. Can we get a breakout and send this Sun coin to the moon?
---
1. Fractal Trend is showing an uptrend (Green background color) for TRX on the four hour chart.
2. Breakaway Scalper is currently neutral (Grey bar color), so we have no trade yet.
3. With this strategy we enter long ONLY when Fractal Trend shows a Green background and Breakaway Scalper shows a Green bar color. We enter short on opposite conditions (Red on Red) and otherwise want to be in cash.
4. What we are looking for a long signal from Breakaway Scalper. You can see that not every signal from this strategy has been a big winner, but when we get continuation the winners more than make up for the losers. Either way we will have a stop loss (Yellow line) in place to limit our risk.
5. Our first target, assuming we get our long signal, is the top of the channel and the bearish orderblock at R1.
6. Mid-term targets above that are R2 and R3, which were formed from the previous price action before the dump in March.
7. For support we are really only looking at the local support at S1, because any level below that compromises the uptrend... and the last thing we are going to do is look for long position in an altcoin in a downtrend.
8. Factors working in TRX's favor here are the many new ventures of Sun and company like Steem / Hive, the general hype he tends to bring, AND some overall strength in both the BTC and altcoin markets recently (not to mention the uptrend in equities where there has been some correlation with crypto recently). On the other side of things, weakness in any of those markets could jeopardize TRX too.
注释
Coming down to this orderblock here at S1 and hoping to see a reversal from this level or else I would be expecting Fractal Trend to flip over to a downtrend(Red background). This is just my assumption and we may hold the uptrend(Green background color) even if we head lower.
Only time will tell. :)
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