TRX forming clear bear flag - ready for another dump?
Hello traders,
Today i saw some bullish analysis about TRX. I have different point of view here. If you look closer, rising channel is just flag of huge dump. This is perfect example of bear flag, and this consolidation in channel mostly end up with breaking down under this channel and another bloody spike down. Perfect place for entering this short is at the moment when price breaks under lower channel trendline. SL in this case put above lower trendline. For brave traders, if you are confident that dump will come, you can open short when price is still in channel, in this case SL may be placed above upper trendline.
This same scenario happened at TRXUSDT between 20 nov - 20 dec 2020. (you can see also dump, rising channel and another dump) If this will be same, we should see dump in next few hrs. This dump may come to test strong support at +- 0,0265
What do you think?
If you like my idea, please like & follow for more analysis!
This is just idea, not investment advice
TRADE WITH BRAIN, NOT GREED
Today i saw some bullish analysis about TRX. I have different point of view here. If you look closer, rising channel is just flag of huge dump. This is perfect example of bear flag, and this consolidation in channel mostly end up with breaking down under this channel and another bloody spike down. Perfect place for entering this short is at the moment when price breaks under lower channel trendline. SL in this case put above lower trendline. For brave traders, if you are confident that dump will come, you can open short when price is still in channel, in this case SL may be placed above upper trendline.
This same scenario happened at TRXUSDT between 20 nov - 20 dec 2020. (you can see also dump, rising channel and another dump) If this will be same, we should see dump in next few hrs. This dump may come to test strong support at +- 0,0265
What do you think?
If you like my idea, please like & follow for more analysis!
This is just idea, not investment advice
TRADE WITH BRAIN, NOT GREED