In previous post we have seen that the TRX with Bitcoin pair had formed in cypher pattern and final leg of this bullish cypher pattern was retraced between 0.618 to 0.786 Fibonacci level.This is the potential reversal zone of this pattern and from here the price action was suppose to move up with a bullish divergence.

Previous Cypher:

New Harmonic Move:

Now the price action of Tron has little bit extended its final leg between 0.886 to 1.13 Fibonacci levels. Now these movements of the priceline are confirming that the Shark has been formed rather than the cypher pattern, even though sofar the cypher pattern is also valid because there is not a single candlestick that has been closed below the potential reversal zone of cypher pattern but however the Shark pattern is also formed. Therefore we can also buy according to new pattern’s formation. The new pattern’s formation is as below:

The first leg was started from 7th of Jan 2 6th Feb 2020 then A to B leg was retraced between 0.382 to 0.618 Fibonacci levels then B to C leg is projected between the Fibonacci projection area of A to B leg between 1.13 to 1.618 Fibonacci then final leg is retraced between 0.886 up to 1.13 Fibonacci level and now the price action is moving in the potential reversal zone of this Shark pattern.

Buying And Sell Targets:

The buying and sell targets according to harmonic BAT pattern should be:

Buy between: 0.00000179 to 0.00000162 sats

Sell between: 0.00000200 to 0.00000241 sats

Stop Loss:

The potential reversal zone area which is up to 0.00000162 sats can be used as stop loss in case of complete candle sticks closes below this level.

This idea is for short and mid term traders not a long term idea, I will be keep posting more trading ideas.