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AsgherAli
Mar 11, 2022 12:21 AM

High sell volume + O.I drop Short

Horizen / TetherUS PERPETUAL CONTRACTBinance

Description

The idea is the same as previous trades. We look for high volume with open interest divergence. ZEN has rallied with a decent volume, but O.I is not up to the mark. This suggests the recent rally was mostly short covering.

If we manage to close above 42.8 I'd close my short/ if the O.I catches up. Take profit is at 0.6 retracement of the current range.

Trade closed: target reached

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