TRON/BTC
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An analysis for TRON on request by one of my followers following main net launch on May 31st.
We broke the (black) downtrend on 20th March and had a nice upward movement afterwards.
Subsequently the (red) uptrend was broken and we bounced on major (blue) horizontal support which gave us a higher low and a new (blue) uptrend.
Don't chase the market, know what you want to see, wait and let the market come to you.
So what do I want to see before opening a trade?
We have take into account these possible situations:
1) We go straight up to (red) resistance and 0.382 Fib (light green) --> no position taken (red arrows)
2) 12H candle closes under 0.236 Fib (red) and we break the (blue) trend line --> no position taken (red arrows)
3) 12H candle closes under 0.236 Fib and we retest the (blue) trend line. In that case we look for a reversal candle that indicates a bounce on the trend line and the continuation of the upward movement --> Long position taken (green arrows) with stop loss under blue trend line and 0.236/0.382/0.5 Fibs as Profit
Now we do the 'fun' part, we wait.
We broke the (black) downtrend on 20th March and had a nice upward movement afterwards.
Subsequently the (red) uptrend was broken and we bounced on major (blue) horizontal support which gave us a higher low and a new (blue) uptrend.
Don't chase the market, know what you want to see, wait and let the market come to you.
So what do I want to see before opening a trade?
We have take into account these possible situations:
1) We go straight up to (red) resistance and 0.382 Fib (light green) --> no position taken (red arrows)
2) 12H candle closes under 0.236 Fib (red) and we break the (blue) trend line --> no position taken (red arrows)
3) 12H candle closes under 0.236 Fib and we retest the (blue) trend line. In that case we look for a reversal candle that indicates a bounce on the trend line and the continuation of the upward movement --> Long position taken (green arrows) with stop loss under blue trend line and 0.236/0.382/0.5 Fibs as Profit
Now we do the 'fun' part, we wait.
Ghi chú
12H candle closed under 0.236 Fib, on our way to retest trend line.Giao dịch đang hoạt động
Ghi chú
TP 1 reachedGhi chú
TP 2 reachedĐóng lệnh: đạt mục tiêu
TP 3 reached
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