Short term outlook on TRX
Ok Here is my take:
Note:
1. Previous retracement .5 Fib level strongly rejected 2 touches (did not reach .618)
2. bounce up did not pass previous High (929 Sat)
3. rejection @ 860 resistance
Possibilities
1. bounce @ new .5 fib level (800 range)
2. Bounce at 1:1 extention of first retracement wave
3. Brake below previous love 720 Sat will indicate further downtrend
4. My re-entry Break above 870 Sat as this will indicate strength and Higher high
Note:
1. Previous retracement .5 Fib level strongly rejected 2 touches (did not reach .618)
2. bounce up did not pass previous High (929 Sat)
3. rejection @ 860 resistance
Possibilities
1. bounce @ new .5 fib level (800 range)
2. Bounce at 1:1 extention of first retracement wave
3. Brake below previous love 720 Sat will indicate further downtrend
4. My re-entry Break above 870 Sat as this will indicate strength and Higher high
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