TRON (TRX): Ascending Right Triangle or Cup & Handle? Probably Both!
TRON (TRX/USD) can be seen to be traversing within the boundaries of a triangle. The correction at large can also be labeled as an abc zigzag as the subwaves show. Price has breached out of the triangle and the implications of next steps can be assessed.
Closeup shows a potential second breakout of price from the Cup & Handle pattern. This could release the start of another round of impulse as shown by the white waves.
Patterns provide lots of clues on how future price pathway can be and if it jives well with Elliott Waves, the more powerful. The ascending right triangle shown below can be quite bullish. IF price travels as indicate by the blue line arrow; the trend reversal could be confirmed.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?