TRXUSD; Sentiment shifted, searching for higher low
In my last analyses I pointed out a possble bullflag but after braking to the downside a steeper correction was seen where the 61.8% Fibonacci mark was almost touched.
A textbook morning star pattern ended this correction and since this market is showing higher lows and highs within a bullchannel. With the top end touched, market is showing some corrective action currently. This could be another search for a higher low.
Fibonacci retracement levels can be seen as candidates for this, especially the 50% and 61.8% levels at around 0.07500/0.07420 and 0.07180 resp. The low end of the bullchannel is seen around 0.06850 currently but may be a bit too far.
So, may be the best idea to try and go with this higher low, higher high pattern when trading and thus looking forward to a 0.08500+ price after cndlestick signals point to a higher low at mentioned levels.
A textbook morning star pattern ended this correction and since this market is showing higher lows and highs within a bullchannel. With the top end touched, market is showing some corrective action currently. This could be another search for a higher low.
Fibonacci retracement levels can be seen as candidates for this, especially the 50% and 61.8% levels at around 0.07500/0.07420 and 0.07180 resp. The low end of the bullchannel is seen around 0.06850 currently but may be a bit too far.
So, may be the best idea to try and go with this higher low, higher high pattern when trading and thus looking forward to a 0.08500+ price after cndlestick signals point to a higher low at mentioned levels.
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