TRX - Inverse head and shoulder - Breakout Imminent

8 May 2024

TRXUSDT (6H CHART) Technical Analysis Update

TRX is currently trading at $0.12346 and has formed a inverse head and shoulder pattern. Price is currently around the resistance line, if see a resistance breakout then we have potential for a good LONG Trade.
I will wait till we have a confirmed breakout of the resistance and enter the long trade only after that.

Entry level: $ 0.12461 (Candle Close above this)
Stop Loss Level: $ 0.11752

TakeProfit 1: $ 0.12778
TakeProfit 2: $ 0.13172
TakeProfit 3: $ 0.13764
TakeProfit 4: $ 0.14398

Max Leverage: 5x
Position Size: 1-2% of capital

Don't forget to keep stop loss.

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Cheers
GreenCrypto

15 May 2024

Not

Target 1 reached.
+10% profit