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Hi all,

It's a pleasure to submit my my last entry for the trading contest this week as I will be analysing the TRX/USDT pair and then perform a sell short order. I will still continue in the TEAM FRONTLINE led by @dilchamo and @shemul21

1. The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc.

Today, I will be studying the TROn Ecosystem as I will be applying both fundamental and technical analysis in other to predict the movement of this coin

Introduction To TRON Ecosystem Project

TRON is an operating base blockchain system which is aimed at ensuring great technology for use daily by its users. This TROn network can handle upto 2000 Transactions per Seconds as compared to BTC and ETH that can only handle 6 and 25 Transactions per seconds respectively. The TROn Ecosystem offers a decentralized platform which users can be creating contents and earning for free and the highest investment happened in 2018 as there was high sharing of file BitTorrent service.

TRON has so many main goals which are the driving creation via a financial reward, delivering a very simple distributed sharing of files, decentralized industry of gaming and enabling the content creator so as to launch their own individual tokens. Justin Sun Is the founder and CEO of this TROn token. The TROn token has a lot of experience and expatis team and it's company is located in most part of the world which are drawn from major Ripple companies.

The Tron Token is a unique token because of its environmental position which offers content creators to connect directly with all their audience hence making it highly decentralized and transparent which inturn has eliminated centralized platform. The Tron ecosystem also enables content creators not to lose too much commissions to middle hence making user's content less expensive for all costumers. The Tron ecosystem is aiming at establishing a blockchain technology industry because of how the sector of entertainment is highly becoming digitize. This Tron ecosystem has a good roadmap which that shows all it's intentions and development for years ahead hence making it so unique.

The Tron network uses but delegated proof-of-state consensus mechanism to operate and TRX owners can get enough Tron power by simply freezing the TRX token and can vote for high representatives which are serve as block producers. The rewards that are usually distributed to users who vote are block producers that usually recieve TRX rewards via exchanges for transactions verification

TRX Exchanges

Screenshot from coinmarketcap.com

TRX is not quite popular but it's well known and can be traded in so many exchanges such as Binance, Gate.io, Kucoin, FTX, Houbit and so many other exchanges. I have listed just a few as seen in the screenshot above

Screenshot from coinmarketcap.com

Screenshot from coinmarketcap.com
Looking at the screenshot above, we can see that TRX token is ranked #244 with a total supply of 101.75B TRX, a market cap of $5,775,424,772 and a total volume of $1,324,248,525

Screenshot from coinmarketcap.com

From the screenshot above, we can see that this coin hit an all time high of $0.3004 on Jan 05, 2018 and it's which happened 9months ago. Its time low $0.001091 which happened to be 5years ago on Sep 15, 2017. Looking at the chart, one can say that this coin has a slow start but I believe it's going to rise in future because looking at its roadmap, one can be able to predict it's rise to supremacy in future ahead

2. Why are you optimistic on this token today, and how long do you think it can rise?

Screenshot from Binance

From the screenshot above, we see why I'm optimistic and bearish about this token today. Even though there was a little bullish movement with almost all major coins including BTC and ETH, but TRX token did experience that for it instead experience a major bearish movement downtrend. Due to this bearish feeling of the TRX token today, I decided to look for a good entry short position in the market so that I could sell and make profit

Screenshot taken from tradingview.com

Looking at the 4-hour TRXUSDT chart, we see that this coin has experience a major bearish movement for quit a long time hence making me to be optimistic and feeling bearish about this token

3. How to analyze the token? (Using the analysis knowledge learned from professors’ courses

Sell-Short On TRX/USDT pair

In this section, I will be using the knowledge taught by my professors in the crypto academy so as to analyze my trade technically and I will be carrying out this technical analysis using the tradingview.com official website then Perform my buy long order in my verified Binance account

From the TRXUSDT chart below, I was able to identify a good Sell-Short position because the price of the TRXUSDT was trading below 200 EMA telling me that it was a bearish trend. I confirmed this movement from the dots of the parabolic Sar because it was trading above the TRXUSDT price by telling me that it's a good point for sell signals. The RSI indicator was found below the 50 mark by futher telling me that it's a good position to enter my sell order trade.

Screenshot taken from tradingview.com

I then identify both the support and resistance points and used them as my takeprofit and stoploss. when I finally received signals of entry directly from the parabolic Sar, I had to place a real Sell-Short trade order from my verified Binance account with an initial capital of $7.5 . I had to multiply it 2x for the sell entry. When I multiplied it, I discovered that I had a total selling power of about $15

I then had to executed a buy order buy choosing future trading as my entry was at 0.05925, with my 1st takeprofit at 0.05871, 2nd takeprofit at **O.05608 and my stoploss at 0.06076. My Risk to reward ratio was R:R = 2:1

I waited patiently for about 30 mins then started experiencing progress in my trade as the Sar Indicator was still trending downward after few bearish candles

Screenshot taken from tradingview.com

I still realize that my target was successful and there was an emmidiate price reversal at thesame time the SAR indicator dots started trending uptrend. My 2nd target position was now closed as I took home my profit

Screenshot taken from tradingview.com

The screenshot above shows that I have successfully hit my Target because the Parabolic Sar Indicated a price reversal pattern which I then had to closed my trade and take home my Profit

Screenshot from Binance

Screenshot from Binance
The screenshot above shows my trade details

4. Your plan to hold it for a long time or when to sell?

YES, I hold more than 500 TRX in my wallet and inturn to hold it until when the coin start showing greenlight in near future. I sold some of it today because of how bearish the market was and Indeed I was successful. So I had to exchange it back to TRX so that I can continue holding it

5. Do you recommend everyone to buy and the reasons for recommending/not recommending?

To be sincere, buying this coin today will lead to high profits so I recommend every trader to enter the market now and buy this coin because we can see how the market is bloody for quit sometime now by moving downtrend hence buying it when it's very low can make traders to gain when the coin start rising again.

Again, this coin has a clear road map and experience Engineers working extremely very hard on the Tron project meaning that this coin has a prominent future and will surpass it's all time high. We also see how this token is entertaining it's users as they earn it free by creating contents, this means that Tron will multiply it's value greatly because it's planning to develop social network that will work as a blockchain technology hence enabling the value of Tron to rise after. This goes for long term traders. As for short term traders, I will recommend you to practice only scalp and intraday trading so that you can be looking for good opportunities in the market to either buy or sell your TRX by making profit out of it.

Conclusion

I'm happy because I had successfully come out with fundamental and Technical Analysis on the Tron token. After carrying out this analysis, I then had to take a Sell-Short position because of how bearish the market was today. I successfully came out victorious in my Sell-Short position by taking home my Profit.

This is my last trading practicals for this week, It was not an easy task but thank God I have learned a lot all thanks to knowledge I obtained from the steemit crypto academy. So I want to give a big thanks to all my professors for their hardwork and sacrifices they are doing in other to give us good knowledge about crypto trading. I also thank the steemitblog for this initiative fir if it wasn't for them, we couldn't have been able to learn and obtain knowledge about crypto

CC
@shemul21