TRXBTC- Quick and Easy Swing Trade (15%)
Hi guys, this is quite the easy trade to make in my opinion. There are quite a lot of bullish indicators telling me to open up a long, such as the rejection of the EMA 50 on the hourly, the breakout from the falling wedge (green dotted lines), and the bull pennant we're currently in (red dotted lines).
Open your long at the breakout point, which I speculate would be somewhere around 542 satoshis. Stop loss will be set somewhere below the horizontal line on the bull pennant (roughly 532 sats).
Profit take at the solid green line if you're hesitant to hold this trade for too long. Otherwise, look to take profits at the .618 fib line.
As you continue to climb up, readjust your stop loss to situate it self roughly around the subsequent fibonacci point.
For those of you that are interested further, TRX will be a great hold in the coming weeks, upwards of 1600 sats IMO.
Open your long at the breakout point, which I speculate would be somewhere around 542 satoshis. Stop loss will be set somewhere below the horizontal line on the bull pennant (roughly 532 sats).
Profit take at the solid green line if you're hesitant to hold this trade for too long. Otherwise, look to take profits at the .618 fib line.
As you continue to climb up, readjust your stop loss to situate it self roughly around the subsequent fibonacci point.
For those of you that are interested further, TRX will be a great hold in the coming weeks, upwards of 1600 sats IMO.
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Assuming you've set your stop loss and got kicked out of this trade, now is a pretty good entry point.