THIS IS ZEC INVERTED SO WHAT LOOKS LIKE A REVERSAL FROM A BULL TREND TO A BEAR TREND IS ACTUALLY A POTENTIAL BEAR TREND TO BULL TREND REVERSAL
Not the biggest privacy or ZEC person but this appears to have some great trade setups and looks like a good time to get in
What I see on this chart:
1) First and foremost there is a clear trend upwards and it is stalling drastically over the past 23 candles. Price is above cloud, cloud is green, price is above Kijun and Tenkan is above Kijun. All signalling a strong trend is in tact.
2) The trend is forming a rising wedge which is a good sign of a reversal along with the falling volume
3) Bearish standard divergences have formed as the RSI is making lower highs while price is making higher highs which is another reversal indicator
4) Bollinger Bands are tightening which signals a volatile move is likely to come and we can use the previous bullet points as signals this volatility could lead this chart to the downside (which is actually upwards on the non-inverted chart).
Not financial advice, just my thoughts on what I see happening with ZEC at the moment. I have opened a position and am targeting the Kijun first and will reconfigure at that point. Stop loss is tight
Not the biggest privacy or ZEC person but this appears to have some great trade setups and looks like a good time to get in
What I see on this chart:
1) First and foremost there is a clear trend upwards and it is stalling drastically over the past 23 candles. Price is above cloud, cloud is green, price is above Kijun and Tenkan is above Kijun. All signalling a strong trend is in tact.
2) The trend is forming a rising wedge which is a good sign of a reversal along with the falling volume
3) Bearish standard divergences have formed as the RSI is making lower highs while price is making higher highs which is another reversal indicator
4) Bollinger Bands are tightening which signals a volatile move is likely to come and we can use the previous bullet points as signals this volatility could lead this chart to the downside (which is actually upwards on the non-inverted chart).
Not financial advice, just my thoughts on what I see happening with ZEC at the moment. I have opened a position and am targeting the Kijun first and will reconfigure at that point. Stop loss is tight
Comment:
ZEC is looking so good. That bottom cloud is a magnet and since this is the inverted chart that is very bullish.