Image Source: Pexels

Elliott Wave Analysis TradingLounge Daily Chart

TRON/ U.S. dollar(TRXUSD)

TRXUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Direction Next higher Degrees: wave IV of Impulse

Wave Cancel invalid Level:

Details: Movement within the Triangle pattern.

TRON/ U.S. dollar(TRXUSD)Trading Strategy:
The movement within the Fourth Wave Triangle pattern continues. We still lack two more moves to complete the pattern; so wait for the correction to complete before rejoining the trend.

TRON/ U.S. dollar(TRXUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

TRON/ U.S. dollar(TRXUSD)

TRXUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Direction Next higher Degrees: wave IV of Impulse

Wave Cancel invalid Level: 

Details: Movement within the Triangle pattern.

TRON/ U.S. dollar(TRXUSD)Trading Strategy:
The movement within the Fourth Wave Triangle pattern continues. We still lack two more moves to complete the pattern; so wait for the correction to complete before rejoining the trend.

TRON/ U.S. dollar(TRXUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

More By This Author:

NextEra Energy Inc.(NEE) Stocks Elliott Wave Technical Analysis - Thursday, August 15
AUDUSD Forex Elliott Wave Technical Analysis - Thursday, August 15
Cardano Crypto Price News Today Elliott Wave Technical Analysis - Thursday, August 15