strong buy
TRX Long Position Targets 7.7% Gains Amid Reversal Expectations
The trader from PelinayPA, with 36K followers, suggests a long position on TRX at $0.273, targeting $0.294, which is a 7.7% increase, with a stop-loss at $0.265 to limit potential losses to 2.9%. The 4-hour chart indicates that TRX tested an ascending trendline, and a reversal is expected at this level. However, there is caution that if the market experiences another downturn over the weekend, there is a significant risk that the support level could be broken.
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AI Analysis
The analysis is based on the 4-hour timeframe, where TRX has tested a key ascending trendline, often a signal for a potential reversal after a bullish test. The proximity of the current price to the s...
AI Recommendation
Given the technical setup suggests a potential reversal, it's advisable to consider entering a long position while employing a strict stop-loss at $0.265 to manage downside risk. Traders should be pre...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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