SUMMARY
Tron (TRX) has been working diligently to pattern out the handle formation of a Cup & Handle pattern as shown in below chart. The Elliott Waves show that wxyxz sequence best fits the current price motions. Since five waves had completed prior, this handle has the potental to reach towards teh 0.618 or the 0.78 Fib level before turning.
IF one has cash readily available, raised by profit taking prior prior runs, they can easily be deployed during these kinds of price dips or corrections. The longer shows that once the handle completes, the potential for a trend reversal could be with a sizable upside in price. The $0.34 target is for wave 5 and wave 3 should near $0.27 or so. IF this analysis is correct, MASSIVE profits can be made.
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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
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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