TRXUSD Short and Medium term

9 Apr 2019

On the first chart (medium term) I've put TRON on the 1D chart, which is a bullish Inverse Head and Shoulders formation (1W). The neckline is obvious and is what has been providing the direction (through rejection and rebound points). One more Low around 0.02300 is left until the pattern aggressively breaks to the upside and towards 0.044 and 0.055.

On the second chart (short term) we see a quick profit opportunity on a 4H Rising Wedge within the current 1D Channel Up (the current bullish leg). This calls for a quick long target of 0.033500 before the final High of the 1W Inverse Head and Shoulders neckline rejects the price. If the Channel Up breaks, then this quick long opportunity is invalidated and I will only look to buy lower for the next bullish push.