TRX Rally - Correction Incoming?

5 Oca 2019

Analysis on the Hourly:

Here we can see a shooting star formed with high volume, this indicates that a lot of selling was done at this point.

If we watch the rsi closely, it formed a double top, which indicates going down.

Now there's two possibilities:

1) Either it keeps going up and touches 652-655 (Fibonacci cluster) ,

2) Or we have a short-term correction to the 570-575.


If 2) occurs, we need to watch that level closely, and find a bullish candle with good volume in order to enter a possible trade to 652-655.

Also, keep in mind that in the 4 hour timeframe, if it forms a hanging man, most likely 2) will occur.

I will keep updating!

If you want to share your ideas , comment down below and like if you enjoyed this analysis.

6 Oca 2019

Not

It did the second possibility and rebounded in the fibonacci cluster as predicted

8 Oca 2019

İşlem kapandı: hedefe ulaştı

As told in the analysis, it touched our take profit of 652-655.

I will post a new chart if anymore trading opportunities occur.