Trading Strategy for Currency $TRX
TRX/USDT (Daily Frame)
Idea:
We notice that the price is moving above the moving averages (EMA(7) and EMA(25)), reflecting positive momentum, indicating that the upward trend may continue. The RSI indicator is at 60, which means that the currency is in a neutral zone with good upward momentum.
Entry:
Enter upon confirmation of the daily candle closing above $0.2500.
Target:
First Target: $0.2597 (previous peak).
Second Target: $0.2617 (potential resistance level).
Stop Loss:
Stop Loss: $0.2400 (below EMA(25) and the last support level).
Supporting Indicators:
RSI = 60.13, a good momentum indicator, with the possibility of continued upward movement.
Large buying volumes in the recent candles reflect strong entry.
Advice:
Be cautious of any retracement below $0.2490, which may indicate a price correction.
