ZECUSDT 4H long setup after high time frame correction
Updated
TA Explained
On the 3D chart a clear break of the resistance zone can be seen. Also price made a healthy correction.
On the 4H chart a clear double bottom is found and price broke previous resistance zone.
Targeting previous top and extended fib levels. SL is set at the previous bottom on the 4H time frame. If price drops below this level the TA is invalidated i'd want to be out of position.
Additionally, ZECBTC is looking ready to move up again (chart linked in related ideas). Price broke weekly resistance a couple weeks ago and now successfully retested the broken resistance turning it into support.
Trade setup
Best entries: 85.00 - 89.00
TP1: 118.82
TP2: 109.15
TP3: 99.59
SL: 81.26
RR: 5.54
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
On the 3D chart a clear break of the resistance zone can be seen. Also price made a healthy correction.
On the 4H chart a clear double bottom is found and price broke previous resistance zone.
Targeting previous top and extended fib levels. SL is set at the previous bottom on the 4H time frame. If price drops below this level the TA is invalidated i'd want to be out of position.
Additionally, ZECBTC is looking ready to move up again (chart linked in related ideas). Price broke weekly resistance a couple weeks ago and now successfully retested the broken resistance turning it into support.
Trade setup
Best entries: 85.00 - 89.00
TP1: 118.82
TP2: 109.15
TP3: 99.59
SL: 81.26
RR: 5.54
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: stop reached
Price reacted strong on the BTC dips of last week. Stop got hit.
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