ZKIN reached all our old targets with an overall performance of 238.5% only from the first idea because the accumulated profits are higher. As we can see the price is overextended and it made only small corrections during the upward movement. What can happen next? Let's break it down. The price faced a strong resistance zone near $6.78 - $7.52. This resistance was shown on the close of the daily candle where the price created a bearish "Pin Bar Candle". This gives more value to the resistance zone. The probability is very high that we can see the price to correct the upward movement up to $5.37. Near that zone we may see again a price reaction that can push the price higher up to $8.00. If the price is going to break above the "Pin Bar Candle" before correcting the move then all of this scenario would be invalidated and the next fast target might be $8.00
Thank you and Good Luck!
First idea:
Trade closed: target reached
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The price followed the second scenario. Do you remember: If the price is going to break above the "Pin Bar Candle" before correcting the move then all of this scenario would be invalidated and the next fast target might be $8.00