Hello guys and welcome to my first ever idea I want to share with TradingView.
After the bullish news from China we have seen a massive pump in Chinese blockchain companies like TRX. After such a pump we expect a correction and consolidation naturally.
On my analysis we can see a descending triangle on the 1h chart, when the triangle breaks on top we can expect another breakout. Take in mind it can also go the other way...
I've used the RSI and the EMA 20-50 and EMA 100 are looking good. I've used the fibbonaci retracement and if all goes well I expect a 25% gain up to 275 satoshis after we have beaten the 230 satoshi resistance line.
I've used all these indicators on the 1-2-4H and 1D chart and all apply.
I have put my stop limit sell on 205 satoshis to keep my loss minimal.
I'm a ROOKI in TA and still learning, please feel free to correct me or send feedback.
Salamat po.
PS: THIS IS JUST ME SHARING MY IDEA AND THIS IS NOT FINANCIAL ADVICE
After the bullish news from China we have seen a massive pump in Chinese blockchain companies like TRX. After such a pump we expect a correction and consolidation naturally.
On my analysis we can see a descending triangle on the 1h chart, when the triangle breaks on top we can expect another breakout. Take in mind it can also go the other way...
I've used the RSI and the EMA 20-50 and EMA 100 are looking good. I've used the fibbonaci retracement and if all goes well I expect a 25% gain up to 275 satoshis after we have beaten the 230 satoshi resistance line.
I've used all these indicators on the 1-2-4H and 1D chart and all apply.
I have put my stop limit sell on 205 satoshis to keep my loss minimal.
I'm a ROOKI in TA and still learning, please feel free to correct me or send feedback.
Salamat po.
PS: THIS IS JUST ME SHARING MY IDEA AND THIS IS NOT FINANCIAL ADVICE