We can see for last couple of days good bullish movement for ZCL because of a hard fork in late February. But for now, ZCL is overbought and according to Elliot theory plotted on Heiken Ashi we sit in point B and correction will be soon.
Also, we can see in 1h Heiken Ashi the first candle has a small body and big shadows which are signals for trend changing. The second candle shows long bottom shadow which may be signal for strong downward movement. Next couple of hours can show us new good levels for entry because, from a fundamental point of view, ZCL will be pumped till the end of February.
Also, we can see in 1h Heiken Ashi the first candle has a small body and big shadows which are signals for trend changing. The second candle shows long bottom shadow which may be signal for strong downward movement. Next couple of hours can show us new good levels for entry because, from a fundamental point of view, ZCL will be pumped till the end of February.
Comment:
Despite of bearish signals on 1h candles, we can beat 0.018 level in next days if correction won't go under arc.