tradingtradefortading

Z1P take profit!

Short
ASX:Z1P   ZIP CO LIMITED
In my humble opinion we have entered a parabolic section on Z1P . looking at exiting at $1.535 for a few reason with a pull back to the 61.8% level!

Bump run on the longer term and on the intraday right now which is giving us a good exit signal, including MASSIVE BEAR DIV . on the RSI

All of these signals make it to tantalizing to pass up!

looking at an take profit exit and then a swing down entry for 1 last long!


Stay Vigilant

Good luck & happy trading homies!

DYOR!
Comment:
BIG BEAR ENGULFING CANDLE came in yesterday, it doesn't look good!

saving grace may be the small volume that came with it. This shows (in my opinion) there isn't bearish conviction yet. may have a push back and suckers rally but it is more likely to tank down from here!

Comments

And now it is at 2.050
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@gheli, hahahah well i guess thats TA bro
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gheli tradingtradefortading
@tradingtradefortading, looks like zip and apt are tracking each other
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@gheli, yeah they are very similar services aren't they! in the long run i truely believe it is better to lock in profits than it is to risk it against bearish signals. apt is zooming though! i was expecting the XAO to not have been bullish for as long so i guess this is why my timing sorta stitched itself up, probably entered the analysis with my own bearish bias because of this... classic analyst error.
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Oops!...and then it went up to 1.625
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@gheli, reanalysing I would have moved my target higher. However the daily candles all closed out around my target and the aim is the close in profits and close out losses. You can’t beat yourself up for not miraculously hitting exits. You can, however, commend yourself for taking profits instead of falling victim to greed
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Good call. I spotted your post and moved my stops up and got exited and locked in a profit.
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@AngusMcK, dope! glad you're cashed up brother! looking at volume coming in with that daily Bear Engulfing candle, might be a chance of a push back today but its slim. May not reach the $1.535 as predicted...
Reply
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