Weekly TRXUSD Technical Analysis and Forecast - Cryptocurrencies

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Weekly forecast TRON technical chart

Symbol

TRXUSD

Trade Setup

#TRXUSDT
Total Profit: 18679 pip (280%)
Closed trade(s): 11743 pip Profit (178%)
Open trade(s): 6936 pip Profit (102%)

Trade Setup:
We opened 10 BUY trade(s) @ 0.06630 based on 'Valley' entry method at 2021.06.24.

Closed Profit:
TP1 @ 0.07463 touched at 2021.08.07 with 833 pip Profit (13%).
TP2 @ 0.09050 touched at 2021.08.12 with 2420 pip Profit (37%).
TP3 @ 0.10050 touched at 2021.09.02 with 3420 pip Profit (52%).
TP4 @ 0.11700 touched at 2021.09.12 with 5070 pip Profit (76%).
833 (13%) + 2420 (37%) + 3420 (52%) + 5070 (76%) = 11743 pip (178%)

Open Profit:
Profit for one trade is 0.07786(current price) - 0.06630(open price) = 1156 pip (17%)
6 trade(s) still open, therefore total profit for open trade(s) is 1156 (17%) x 6 = 6936 pip (102%)

Trading suggestion:

We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
If the Midterm level 0.07463 is broken, we will close open trades.

Date December 30, 2021 - 14:14

Current range bound

Forecast resumption of uptrend

Midterm forecast:

While the price is above the support 0.07463, resumption of uptrend is expected.
We make sure when the resistance at 0.09359 breaks.
If the support at 0.07463 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 0.07463 is broken.

Technical analysis:

While the RSI resistance #1 at 51 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.08320 on 12/24/2021, so more losses minimum to Major Support (0.07463) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 38.

Take Profits: