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Elliott Wave Analysis TradingLounge Daily Chart, 22 August 2023.

TRON/U.S. Dollar(TRXUSD)

TRXUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave((C))

Direction Next higher Degrees: wave II of Motive

Wave Cancel invalid level:

TRON/U.S. Dollar(TRXUSD) Trading Strategy: Tron recovered well maybe the MA200 line, but even then, the fall from 0.094 with a five-wave pattern led us to expect the rise from the MA200 to be just a short-term rise to continue down. So all of them are zigzag corrections.

TRON/U.S. Dollar(TRXUSD) Technical Indicators: The price is above the MA200 indicating an Uptrend, MACD, and RSI have Bullish divergence.
Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 22 August 2023.

TRON/U.S. Dollar(TRXUSD) TRXUSD

Elliott Wave Technical Analysis Function: Counter

Trend Mode: Corrective

Structure: Flat

Position: Wave((C))

Direction Next higher Degrees: wave II of Motive

Wave Cancel invalid level:

TRON/U.S. Dollar(TRXUSD) Trading Strategy: Tron recovered well maybe the MA200 line, but even then, the fall from 0.094 with a five-wave pattern led us to expect the rise from the MA200 to be just a short-term rise to continue down. So all of them are zigzag corrections.

TRON/U.S. Dollar(TRXUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. MACD and RSI have Bearish divergence.

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