[TRXUSDT buy, Future trading] Crypto Academy Trading Competition-S6T3| homework post for@pelon53
The name and introduction of the project token,
In January 23,2020 Justin sun and well known litecoin founder charlie Lee had their 4.6 million dollar dinner with Berkshire Hathaway billionaire boss which was expensive dinner. So that was some introduction about Justin sun now comes to the tron and its coin trx. tron has ambitious plans to create a decentralized internet and a platform for small contracts and decentralized apps.
Tron trx is a proof of stake cryptocurrency that powers the tron blockchain network. It is a censorship resistant digital currency that act as a medium of exchange and can be sent or receive by anyone in the world who has trx tron wallet. Because trx is a proof of stake coin and there are certain rights and privilege that one has for holding them.
Staking trx gives its holder voting rights in tron election which means that they have a voice in tron goverence. Trx is also used by content and DAP developers to create their own tokens on the tron network. These token can be used for dapps and can interact with small contracts. There are TRC10 and TRC20 tron network token which have their own features and advantages.
As I open the coin market cap of trx there are certain information that we can see on the chart of coin market cap. Here the ranked of the coin, its price, market cap , volume, fully diluted volume,and total supply, all these information can be seen from this market cap page.
In this section of market cap of trx we can see tha number of exchange where we can trade thr trx with different pairs. This includes the most important binnance exchange, Huobi global exchange, kucoin, coinbase kraken etc.
It us also very important to keep an eye on the previous days price chart of the coin. The reason is that during the technical analysis it is previous prices which are seen and new price are predicted. So from here we can see the price of last 30 days, 7 days or to what we want.
Are you optimistic about this token today, and how long do you think it can rise?
Trx has its own blockchain chain called tron network which has a very strong community. Community means those people who has the trx coin in their wallet or they store , buy or stake in any way, all these people will came in the community of the trx which is tron. A large number of audience is holding the trx.
When we talk about the transaction number of trx it is about 2000 transaction per second and the most important advantage is that its user did not need to pay any fee which attract its community to itself and its market capitalization is continuously increasing. The founder of the tron network Justin sun always keep an eye on the digital marketing as make changes in the blockchain according to the new requirements.
How to analyze the token? (using the analysis knowledge learned from professors’ courses) —- important part
Now we will move towards the next and the most important part of the lecture that technical analysis of the pair in which we are going to made trade. Here As I discussed earlier I will use trx/usdt pair for my trading. I will do Technical analysis by using combination of different indicator in order to confirm my entry in the crypto market.
So in technical analysis we will start with Parabolic SAR indicator. This is one the easiest indicator to use even for newcomer in the crypto market. This indicator is stop and reversal indicator. There are are dots are above and below the price chart. In order to predict the trend we can conclude that when the dots are above the price chart it means that market is bearish and we should enter the buy as sell short and when the dots are below the price candle in this case we will go for buy long.
In the above picture we can take the idea that dots are below the price candle and market is making bullish trend so I should go for buy long in future wallet.
Exponential Moving Average indicator
So after confirmation from parabolic SAR now we will move towards exponential moving average indicator by using cross over strategy. Here I chose EMA indicator with two different averages. One is of 21 days EMA and other is 9 days EMA. We can predict the trend in such a way that when 9 days EMA indicator cross the 21 days EMA and moves upward this will be the indication of bullish trend and when 21 days EMA cross the 9 days EMA and moves upward this will be the indicator of bearish trend.
In the above screenshot 9 days EMA is moving upward after crossing the 21 days EMA which means that I have to go for buy long in this case also.
TRIX indicator
After that Now I will go for TRIX indicator in order to confirm the market trends. In this case when the TRIX indicator line is break the zero line and moves downward it means that market will go in bearish way and I will go for sell short and when TRIX indicator line cross the zero line and moves upward means that market will go up and there is bullish trend in the market.
So here in the above picture the is clear idea about the uptrend because market because after cross over from the zero line TRIX line is still moving upward.
Moving Average indicator
Now in the last I will confirm the trend by using moving average indicator. In moving average indicator if the line of MA is above the price movement candle than this will be the bearish trend and if line is below the price candle then this will be the bullish signal.
In this chart the line of moving average indicator is below the price candle so this also indicate to enter the market as buy long.
Real future trading on binnance
So after analyzing the market trends with four different kinds of Indicator I entered the market as buy long in trx/usdt pair with 6x leverage. The proof of my trade in given below.
My plans about selling or holding the coins and recommendation to others.
As far as the fate of this trade I did my trade only for short interval of time and when I see that market is going down I exit my trade with having profit of the trade. Here you can see the profit that I gain from this trade.
As far as recommend to others I will recommend other if they want to do the future trade then find some suitable period of time where indicator indicates the suitable trend and than go for sell short or buy long according to the indication. But also holding trx in spot wallet can also be beneficial for the its Holder.
Anything other users want to share about the token/project.
In this part there are some social media accounts of the tron network are given below
Twitter account
Instagram account
Reddit account
Conclusion
So in this 3rd trading competition post for this week I chose trx/usdt pair and analysis is made with the help of indicator. In the first section of the lecture I give brief history about the inventor of the trx coin Justin sun and then in the 2nd part I give information about the some important feature of the trx coin.
Then I do technical analysis by using different indicator as well as cross over strategy is also used here. After analyzing the market I do the real trade on binnance and also earn profit. In the last section I give brief information about the social media accounts of tron network.
Cc
@pelon53
@pelon53 ... Sir I think you miss my post during the sequence checking