Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
If TRX holds the green box range and respects it as support then we can see TRX test previous resistance levels. If you had bought TRX at green box 1 you should have hit your first and second profit target already, and the trade has been very profitable!
TRX has so far touched the second orange box, retraced and now looks like it may do a re-test of the high. If it cant break above the second orange box range it is likely to come down and hit the second green box (2), where we want to see a strong hold for support.
It is key to note that the boxes are a range – therefore I ladder into my trades, which gives me a better entry and exit price.
Published at Sun, 10 Nov 2019 11:06:01 +0000