Tron (TRX) Time to get back in after the correction (+22% BTC)
Tron will be launching their main-net on May 31st, and during the month of June they will be electing their super representatives for the Tron community. It's easy to predict that the price will rally during the news, but the hard part is calling the bottom.
Signals:
BTC dropping to close to 8000 USD, which is the big support level for bitcoin.
Bullish divergence forming on the 4-hour chart assuming we can hold our current level.
How to trade:
Buy In:
- Current level of 730 if you believe downside is over short-term
- 680-700 satoshi range which is likely where we get another bounce. I have set most my limit orders at this level.
Sell Targets:
899 satoshi level (Main target)
1000 satoshi level
1200 satoshi level
Stop Loss:
Under 650 satoshis.
The rest of my targets have been highlighted by a red square, but I believe the mainnet pump is unlikely to get too far past 1000 satoshis.
My personal strategy for trading the hype for TRX.
1. Buy TRX at lowest level possible before first major awareness tweet & sell after bearish divergence on the 4 hour RSI. This date has been shown using the first vertical blue line.
2. Buy back in after a correction of at least 10%. Sell 90% 2-3 days before the mainnet launch. This date has been shown using the second vertical blueline.
3. If we are in a bullish trend, buy back in once again in after correction in anticipation for the TRX super representatives election.
Thanks for viewing and good luck on future trades! If you have any comments or constructive criticism, please leave them in the comments.
Signals:
BTC dropping to close to 8000 USD, which is the big support level for bitcoin.
Bullish divergence forming on the 4-hour chart assuming we can hold our current level.
How to trade:
Buy In:
- Current level of 730 if you believe downside is over short-term
- 680-700 satoshi range which is likely where we get another bounce. I have set most my limit orders at this level.
Sell Targets:
899 satoshi level (Main target)
1000 satoshi level
1200 satoshi level
Stop Loss:
Under 650 satoshis.
The rest of my targets have been highlighted by a red square, but I believe the mainnet pump is unlikely to get too far past 1000 satoshis.
My personal strategy for trading the hype for TRX.
1. Buy TRX at lowest level possible before first major awareness tweet & sell after bearish divergence on the 4 hour RSI. This date has been shown using the first vertical blue line.
2. Buy back in after a correction of at least 10%. Sell 90% 2-3 days before the mainnet launch. This date has been shown using the second vertical blueline.
3. If we are in a bullish trend, buy back in once again in after correction in anticipation for the TRX super representatives election.
Thanks for viewing and good luck on future trades! If you have any comments or constructive criticism, please leave them in the comments.
Bình luận:
TRX had a good recovery like I had called, but we need to see it push through 785. I have been trading TRX these past 2 months and the 785 acted as both strong resistance and support.
Bình luận:
We have one candle closing above the 800 satoshi level. Now if bitcoin does not drop past 8100 I'm very certain the first target can be hit within the next 2 weeks.
Bình luận:
Bình luận:
Once again we see a correction as I predicted. Hot streak for me right now.
Bình luận:
People may call TRX dropping to 785 again. I think it is unlikely, since we have currently found support at 820 level, but if you want to gamble for a couple extra % of TRX, place a stop loss under the 820 mark.
Bình luận:
Stop loss has gone through. Now I will place a limit order to buy if TRX recovers past 800 satoshi's.
This confirms my TRX profit of 6%. Now for the next 5 days TRX depends almost entirely on bitcoin.
This confirms my TRX profit of 6%. Now for the next 5 days TRX depends almost entirely on bitcoin.
