Update on TRX
I believe were moving into a lateral trending market, sketchy territory for the short trade (good area to lose gains) don't get chopped up!
on the Daily were battling resistance at what once was previous support as the saying goes "what was support is now resistance and what was resistance is now support" hopefully in the days to come.
So back to it, so the resistance were seeing obviously had a little sell off typical for a resistance, but looking at the shorts its looking to enter a lateral market, due to the sell volume decreasing, also we're still up trending (MACD) on the daily. Also the difference in the EMA and SMA doesn't seem significant enough for a large correction yet. I think were only on the 3rd wave of the Elliot wave theory. RSI on the shorts are recovering well and will continue to recover even in a lateral market, due to lack of volume. Also price action on Daily is still being tailed by EMA & SMA pay attention for a price action cross below EMA, if it does it might be a good time to exit for re-entry later (Don't over leverage yourself). Tron is its own animal I think especially with the lack of correction in comparison to correction of the other large Alts. So for me I think this is just the next bounce. If we do enter a down trend setting my Stop loss at 920sats
Happy Trading
any input is appreciated
I believe were moving into a lateral trending market, sketchy territory for the short trade (good area to lose gains) don't get chopped up!
on the Daily were battling resistance at what once was previous support as the saying goes "what was support is now resistance and what was resistance is now support" hopefully in the days to come.
So back to it, so the resistance were seeing obviously had a little sell off typical for a resistance, but looking at the shorts its looking to enter a lateral market, due to the sell volume decreasing, also we're still up trending (MACD) on the daily. Also the difference in the EMA and SMA doesn't seem significant enough for a large correction yet. I think were only on the 3rd wave of the Elliot wave theory. RSI on the shorts are recovering well and will continue to recover even in a lateral market, due to lack of volume. Also price action on Daily is still being tailed by EMA & SMA pay attention for a price action cross below EMA, if it does it might be a good time to exit for re-entry later (Don't over leverage yourself). Tron is its own animal I think especially with the lack of correction in comparison to correction of the other large Alts. So for me I think this is just the next bounce. If we do enter a down trend setting my Stop loss at 920sats
Happy Trading
any input is appreciated
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