OK so TRX broke out of the potential Descending triangle. Next stop, $.08 and we'll see if we can make a break up from there!
Comment:
TRX is breaking out
Trade active:
We can see we broke up from the Ascending triangle and into another trend line continuation hitting a fantastic $.10 for a fantastic scalp before pulling back where TRX Found some reasonably strong support on the prior resistance of the triangle. It then continued down to contact and bounce off the lower trend line where the prospective curve of the cup arcs upward and the $.063 support line all intersect. Additionally I see RSI briefly fell oversold in 4 hour and CCI showing Bullish Divergence in 4 hour as well with lesser time frames showing more significant readings of Divergence. Now, I'm not 100% certain TRX is entirely done pulling back.
I will however say I've reintroduced some profits back into it as I wait and see how it rolls out between now and main net launch and have retained another portion for the potential of a little more down. I'd like to note the 4 hour 200 MA is only a little below this position and would not be surprised if we tap that and find support while continuing to upward momentum.
Good luck out there everyone!
I will however say I've reintroduced some profits back into it as I wait and see how it rolls out between now and main net launch and have retained another portion for the potential of a little more down. I'd like to note the 4 hour 200 MA is only a little below this position and would not be surprised if we tap that and find support while continuing to upward momentum.
Good luck out there everyone!