Market update:
- TRX is in a downward trend / channel since 25/05
- heavy resistance from the Ichimoku cloud
- Takashi EMA cross signaled a short/selling signal once the candles left the green cloud.
The continuation of the (small) bounce around 300 sat needs to be confirmed after the major last drop in order to see a sustained revival.
Be aware that Hull Moving Average, which is very handy to determine the direction of the trend is already turned on smaller timeframes to back negative.
- TRX is in a downward trend / channel since 25/05
- heavy resistance from the Ichimoku cloud
- Takashi EMA cross signaled a short/selling signal once the candles left the green cloud.
The continuation of the (small) bounce around 300 sat needs to be confirmed after the major last drop in order to see a sustained revival.
Be aware that Hull Moving Average, which is very handy to determine the direction of the trend is already turned on smaller timeframes to back negative.