Technical Analysis: Tron (TRX)
On the hourly chart of TRX, we see the formation of a "hammer" candle – a classic reversal pattern. But let's not rush to conclusions and trades.
How to trade? ▶️
1️⃣ We wait for the complete formation of the pattern – an unfinished house does not provide protection from bad weather.
📉 To open a sell position, it is better to wait for confirmation in the form of another red candle.
⛔️ Set the stop-loss behind the shadow of the hammer.
💵 Profit target – before the resistance level. Among all levels, choose the one where the profit/risk ratio will be at least 1.5 to 1.
Conclusion:
TRX shows potential reversal signals, but confirmation is required. A patient trader will wait for all the necessary signs before entering a position.
