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TRXBTC’s massive descending triangle (4hr tf analysis)

Tron -5.74% ( TRX -4.28% ) made a high of 0.00002047 on Jan 5, 2018 and has been in a downtrend since then. A massive descending triangle is drawn on the 4hr tf. Support area for TRX -4.28% is marked with green lines (between 0.00000261 and 0.00000207) should TRX -4.28% break to the downside of the descending triangle .

A potential breakout above the descending triangle should see TRX -4.28% possibly return to Target 1 (between 0.0000891 and 0.0000956) or Target 2 ( (between 0.00001247 and 0.00001312).

POE= Point of entry which is just above the descending triangle at ~0.0000457
A breakout above 0.0000457 is the trigger for the long position in TRX -4.28% at which point the stop loss (or POI) is placed just below the bottom of the descending triangle at 0.0000371

TRXBTC.png

POI= Point of invalidation= Price closing below 0.0000371 after the trade has been entered = point of exit from the trade.
Using the bottom of Target area 1 or the bottom of Target area 2 should produce a risk/reward ratio of ~5:1 and 9.5:1 respectively.

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