(Trade this coin on Binance in my signature below)(And check out the cute bulls in the apparel shop)
TRX is one of the coins I've been trading but haven't been able to chart because Binance. Thanks TradingView!
This was McAfee's last call before he stopped doing Coin of the Day and got "hacked". As you can see, it didn't do much.
This coin has skyrocketed from under a cent to where we are now.
It may have some fundamental value and it may not in a sea of altcoins all promising the world and huge innovation, but, in any event, we're looking at a larger descending triangle on TRX and it gives us an opportunity to make a trade.
LONG Entry: 235-245 Sats Target: 355-365 Sats STOP: 210 Sats
Target is based on the .786 fib of the most recent move measured from breakout to the top, which conveniently converges with where the ramp/mean/trendline from the breakout was broken.
Stop on this trade should be tight as a break downwards is likely to indicate correction and confirm downtrend.
== Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
Tronix is still within the parameters of this trade. It's been hanging out on the top side of the triangle trend line for a while but hasn't dumped.
Often these patterns leave price to "float" sideways through the triangle and drift upward slowly. We'll see what happens.
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8 minutes until an hourly candle closes outside the trendline
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And there we go.
I expect this to keep going because it's recovering after the early sell off.
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If you're looking to get into this trade on pullback, here's where I'm looking
I believe this coin will retest the 350 area however. If it can break through it may Verge.
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Another run back over 300 sats. Let's see if it can push through this time.
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Right now looking at the volume on the 6H candles I have some concerns that it's been high without price being able to break over 300 sats and the 0.618 fib at 310 convincingly.
This may indicate market makers are distributing their holdings, which could signal downward movement.
Profits should be taken in the 300-315 sats area and stops should be moved to break even.
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Đóng lệnh: đạt mục tiêu
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Pushed through and hit target after all. Although this can go higher, I've still closed 100% of this trade and will re-evaluate later.
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Pullback like this is exactly why I picked this target and closed here.
After it settles down we'll see if it has more life for a higher run.
Yeah, there was some tweet about end of year mm's pumping there tokens and distributing for some eoy float... I sold.Thanks for trying.
nuke23
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Target still 366?
wsjusa
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A challenge I have in playing an alt coin like this is identifying a safe harbor currency to transfer to on stop outs. Without binance supporting usd or similar.
If the only choice is to sell into another ccoin, BTC BHC XPR BNB or whatever then I can't step out of the volitility risk across the sector. In reality I could be stopping out to something that's selling off even faster.
What do you suggest trading into when stopping out of a trade like this.
RiversAndMountains
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@wsjusa, BTC. The only other option would be USDT but Tethers are garbage and I'd rather hold volatility than something that can be instantly worth zero any day.
There's no easy way around this problem in crypto right now.
R8NGEUR
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Thank you for you good advice....What do you think right now? it will achieve the target of 355-365 or not ?
nuke23
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Man you are a star!thanks a lot as always!
jessewalby
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Missed this. When would you recommend buying back in?
astrologychick
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Yay! I am so happy with having bought this early and not selling yet. Any new targets?
RiversAndMountains
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@astrologychick, I'd suggest taking profits in the 300-350 area just in case it can't break through.
I should have held mine from 1c a little bit longer too lol.