TRXUSD Elliott Wave Analysis: TradingLounge Daily Chart Overview

TRON/ U.S. Dollar (TRXUSD) Daily Chart Analysis

TRXUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Next Higher Degree: Wave IV of Impulse

Wave Cancel Invalid Level: Not specified

Details: Movement occurring within the Triangle pattern

TRON/ U.S. Dollar (TRXUSD) Trading Strategy:

The ongoing movement within the Fourth Wave Triangle pattern suggests that the corrective phase is not yet complete. Two additional moves are expected before the pattern finalizes. Traders should wait for the correction to end before rejoining the trend.

TRON/ U.S. Dollar (TRXUSD) Technical Indicators:

• The price is positioned above the MA200, signaling an uptrend.
• The Wave Oscillator indicates bearish momentum.

TRXUSD Elliott Wave Analysis: TradingLounge 4-Hour Chart Overview

TRON/ U.S. Dollar (TRXUSD) 4-Hour Chart Analysis

TRXUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Next Higher Degree: Wave IV of Impulse

Wave Cancel Invalid Level: Not specified

Details: Movement within the Triangle pattern

TRON/ U.S. Dollar (TRXUSD) Trading Strategy:

The Fourth Wave Triangle pattern remains active, with two additional moves needed to complete it. Traders are advised to wait for the correction phase to conclude before taking new positions in the trend.

TRON/ U.S. Dollar (TRXUSD) Technical Indicators:

• The price remains above the MA200, indicating an uptrend.
• The Wave Oscillator shows bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Cardano/ U.S. Dollar (ADAUSD) Elliott Wave Technical Analysis

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