Elliott Wave Analysis for TRON/US Dollar (TRXUSD): Daily and H4 Chart Overview

TRXUSD Elliott Wave Technical Analysis

• Function: Counter-trend

• Mode: Corrective

• Structure: Zigzag

• Position: Wave ((C))

• Next Higher Degree Direction: Wave I of Impulse

• Cancellation Level for Wave Theory Invalidity: Not specified

• Details: The completion of Wave IV is likely, paving the way for a resurgence in Wave V.

Trading Strategy for TRON/US Dollar (TRXUSD)

TRON continues to showcase strength in its overarching uptrend. The recent corrective phase appears concluded, setting the stage for a rise in the fifth wave. Investors should be mindful of a potential minor pullback before the uptrend resumes. Engaging in this bullish momentum could be profitable.

Technical Indicators for TRON/US Dollar (TRXUSD)

The currency pair stands above the MA200, signaling a robust uptrend. Complementary bullish signals from the Wave Oscillator further affirm the upward trajectory.

Elliott Wave Analysis for TRON/US Dollar (TRXUSD): H4 Chart Specifics

TRXUSD Elliott Wave Technical Analysis

• Function: Counter-trend

• Mode: Corrective

• Structure: Zigzag

• Position: Wave ((C))

• Next Higher Degree Direction: Wave I of Impulse

• Cancellation Level for Wave Theory Invalidity: Not specified

• Details: With Wave IV potentially concluded, a price increase in Wave V is anticipated.

Trading Strategy for TRON/US Dollar (TRXUSD)

Maintaining its position in a bullish market, TRON appears to have moved past its recent correction. The currency is poised for an increase in its fifth wave, although a slight dip could occur beforehand. This presents an opportunity to capitalize on the continued uptrend.

Technical Indicators for TRON/US Dollar (TRXUSD)

Remaining above the MA200 suggests that the uptrend is intact. The bullish momentum is supported by positive readings from the Wave Oscillator, encouraging an optimistic outlook for traders.

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Technical Analyst: Kittiampon Somboonsod

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