Hi all,
TRX has been in a downward channel for some time now, with low buying power (as indicated by the green Aroon Up line). Let's take a look.
Levels to watch, indicated with orange circles:
- RSI: might form bullish divergence if it bounces off of the green line, while also breaking through 30 (thus, moving from oversold to neutral = bulls getting more control);
- Aroon: Up and Down might cross, indicating more buying power;
- Stoch: becoming oversold. A quick cross from blue over orange upwards might indicate a bullish trend forming.
Other levels:
- Red line: key resistance at .618 Fibonacci retracement level, possible target when the channel breaks up;
- Green line: key support at .786 Fibonacci retracement level, hoping to close above today.
Let me know your thoughts on this! :)
TRX has been in a downward channel for some time now, with low buying power (as indicated by the green Aroon Up line). Let's take a look.
Levels to watch, indicated with orange circles:
- RSI: might form bullish divergence if it bounces off of the green line, while also breaking through 30 (thus, moving from oversold to neutral = bulls getting more control);
- Aroon: Up and Down might cross, indicating more buying power;
- Stoch: becoming oversold. A quick cross from blue over orange upwards might indicate a bullish trend forming.
Other levels:
- Red line: key resistance at .618 Fibonacci retracement level, possible target when the channel breaks up;
- Green line: key support at .786 Fibonacci retracement level, hoping to close above today.
Let me know your thoughts on this! :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.