Pvgeldrop
Long

TRXUSD - long position - ascending channel

BITFINEX:TRXUSD   TRON / Dollar
I'm rather new to technical analysis , but I wanted to share this particular graph and see what the community thinks.

TRXUSD seems to be staying nicely in an ascending channel . This seems like a good moment for a long position with worthwhile gains, while minimizing risks. A tight stop-loss helps reducing risks, where I see a choice between Support 1 and Support 2.

A resistance zone is expected, based on Fibonacci retracements and validated by the previous high, so a cautious trader should consider taking profit there. If the resistance zone is broken however, the upper part of the channel becomes the secondary target.

Personally, I've just taken a long position at 0.051 and will be aiming for targets 1 and 2. There might be an extra chance to scale up your position at the middle of the channel if it bounces.

Further information can be seen in the chart, including possible gains and R:R.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out