TradingOn

ZEC/USDT 12h (Binance Futures) Descending channel retest

Long
BINANCE:ZECUSDTPERP   Zcash / TetherUS PERPETUAL FUTURES
#Zcash has retested several time the broken Trendline , I'm expecting a bounce soon.

Current Price= 53.27
Buy Entry= 53.27 - 51.15
Take Profit= 59.66 | 65.24 | 69.51
Stop Loss= 46.16

Risk/Reward= 1:1.25 | 1:2.18 | 1:2.89
Expected Profit= +14.38% | +25.08% | +33.28%
Possible Loss= -11.50%

Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 1080h
Trade closed: target reached: TP1 with +14.38% (1x)

Trade closed: target reached: TP3 reached with +31.54% (1x)

That was a wrap for Zcash, another proof that you don't always need leverage to make decent profit!
In fact, by holding it higher you could have grabbed up to 50% in less than 3 weeks, how about that?
If you are used to high leverage and not managing risk properly, you will probably end losing your gain at some point...

Always manage the risk accordingly and don't lever too much!
You can follow me on my Telegram channels:
https://t.me/TradingOnHigh (High Time Frame swings >= 4h)
https://t.me/TradingOnLow (Low Time Frame scalps <= 4h)

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