Hey guys, this is my very simplistic view at that TRX chart which gives us a great oppotunity with a small risk.
First of all there is a huge news by the end of this month which is the TRON mainnet launch. This by itself is for many people a simple reason to just randomly buy at any time. But that's not what we're gonna do. We want the best possible entry we can get so our risk is very small and at the same time our profits are as large as they can get.
ENTRY POINT: 791-781
The entry point around this area is very simple. Tron is currently forming 4th out of 5 elliots waves. What we wanna idealy do is to find the bottom of the 4th wave. Looking at the chart we can see that around this area is the biggest volume level around. Volume levels always have the tendency like a magnet to bring the price back where most of the trades have been executed. On top of that there is 0.5 retracement of the last swing. When i look at the chart I always meassure many different strategies and indicators and try to find a level where they all meet kinda together. In this case its around 791-781 area.
With all these in mind this area give us a great probability that the prize won't go down much further and may go up a looot as the mainnet launch comes closer.
SL: 700
Profit Targets:
PT(1): 1021
PT(2): 1392
PT(3): 1900
Anything futher is a huge FOMO which may happen aspecially with TRX. Tron is quite a hype coin therefore anything is possible but don't get greedy and take some of your profits out along the way.
If you liked my idea please like and share. I'll be putting out some more interesting entries along the way.
First of all there is a huge news by the end of this month which is the TRON mainnet launch. This by itself is for many people a simple reason to just randomly buy at any time. But that's not what we're gonna do. We want the best possible entry we can get so our risk is very small and at the same time our profits are as large as they can get.
ENTRY POINT: 791-781
The entry point around this area is very simple. Tron is currently forming 4th out of 5 elliots waves. What we wanna idealy do is to find the bottom of the 4th wave. Looking at the chart we can see that around this area is the biggest volume level around. Volume levels always have the tendency like a magnet to bring the price back where most of the trades have been executed. On top of that there is 0.5 retracement of the last swing. When i look at the chart I always meassure many different strategies and indicators and try to find a level where they all meet kinda together. In this case its around 791-781 area.
With all these in mind this area give us a great probability that the prize won't go down much further and may go up a looot as the mainnet launch comes closer.
SL: 700
Profit Targets:
PT(1): 1021
PT(2): 1392
PT(3): 1900
Anything futher is a huge FOMO which may happen aspecially with TRX. Tron is quite a hype coin therefore anything is possible but don't get greedy and take some of your profits out along the way.
If you liked my idea please like and share. I'll be putting out some more interesting entries along the way.
Some of you could take half of your profits at 855. Therefore even if the rest of our trade would end up in a loss we'd end up on a break even (855-786= 69 profit with half of the entry / 786-720 = 66 loss with the rest capital) and you wouldn't have to worry about the trade anymore. Anyways I'm still holding as described perviously as I see tron going up a lot with major news approaching.