We bought ZCL looking to FA and a flat top breakout, this breakout do not happened but fews days after ZCl started a big run touching our first target and almost second target.
If u still holding ZCL I recommend put stop loss under MA 100 its the same price we bought it
what can happen now?
1- if we bounce from 0.5 fib level again probably ZCL will test downtrend line (red) if this happen its a good time to sell with 20% profit, if breakup downtrend line our next stop level will be T2 (45% profit)
2- this can be a flat bottom formation and breakdown 0.5 fib level going back to 0.618 if this happen our stop will hit without profit or loss
If u still holding ZCL I recommend put stop loss under MA 100 its the same price we bought it
what can happen now?
1- if we bounce from 0.5 fib level again probably ZCL will test downtrend line (red) if this happen its a good time to sell with 20% profit, if breakup downtrend line our next stop level will be T2 (45% profit)
2- this can be a flat bottom formation and breakdown 0.5 fib level going back to 0.618 if this happen our stop will hit without profit or loss
Trade closed: stop reached:
Trade closed without profit or loss, we put stop loss under MA100 (same price we bought) after snapshot ZCL just dropped 70% AMAZING DUMP! but we protected with our stop!
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