ZEC is reasonable new coin who has been putting in Higher High and Higher lows since December. These are great coins to trade if you can find a higher low.
Our trade in on the 4H chart where price has come back to supports at 0.0465 (The Yellow line) and then ranged along it. A normal sign that price may break a range long is a false breakout to the bottom, we have seen this in the current bar. To enter here I need a candle that closes above 0.0483.
Once here as always there are two ways to enter, you can just buy it (which I will do on this one), with a SL below Support at 0.0460. Or you can wait for a retest of the range and a bounce. If this happens post on the TG group and I will give some details on the trade.
Entry First bar that closes above 0.0483, SL 0.0460, target s the Red lines 0.0528, and 0.0559
Take make dollars your decisions need to make sense. This is a nice trade with positive cycles and a good entry area.
Trade active
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While we have broken out of the consolidation short, we are down testing the 200ema. I would trade a bounce candle here that closes above 0.0465, and at a target at the top of the range
Comment
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The chart continues to hold around the 200 EMA and i continue to wait for a bounce and a chance to enter
I really disagree with this one. I think it needs to capitulate before going up again.
siLve_R88
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@Tope, don't know about that. the indicators are screaming divergence at the moment. Plus, it has basically reached the local fib support.
Tope
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@siLve_R88, The divergence occurs because in a trend, leading indicators fail. I really think it will revisit 0.45 - 0.44 levels. That is where I am buying
siLve_R88
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@Tope, You are really just confirming what we are all saying, and that is that the local fib 0.38 is at the 44-45 level and it's worth buying.
Tope
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@siLve_R88, If you look closely the trade setups a buy order at 0.0483 and SL at 0.0460. For me the entry point is at ~0.44