Hello, fellow traders!
We see ZRO nearing to its supply zone - the price may reverse now and start a bull run or it might continue the decline further down and reverse there.
In my opinion, it is safe to enter now - but! There are several things to keep in mind.
1. When entering trade, enter with only small portion of your entire balance to manage risks. If you are using leverage, do not overlook the possibility of liquidation.
2. Enter only after you confirm the reversal & start of a trend. Do not make assumptions.
3. Current crypto market will be heavily impacted by the US election that is only few hours away. Depending on the outcome, market may move either direction.
Here's what I'm going to do.
1. Enter now with small amount, small leverage - this is our picket ship. We do not intend to make major profit out of it, its only purpose is to make the minimum profit if the market moves our way with the smallest risk. (I've already done this part)
2. Enter after confirming a reversal.
3. Exit half at 4.2. If we confirm reversal here, we will also exit with the remaining half.
4. If we see a continued uptrend, exit at 5.3, our final target price.
Stay tuned to see the result :)
We see ZRO nearing to its supply zone - the price may reverse now and start a bull run or it might continue the decline further down and reverse there.
In my opinion, it is safe to enter now - but! There are several things to keep in mind.
1. When entering trade, enter with only small portion of your entire balance to manage risks. If you are using leverage, do not overlook the possibility of liquidation.
2. Enter only after you confirm the reversal & start of a trend. Do not make assumptions.
3. Current crypto market will be heavily impacted by the US election that is only few hours away. Depending on the outcome, market may move either direction.
Here's what I'm going to do.
1. Enter now with small amount, small leverage - this is our picket ship. We do not intend to make major profit out of it, its only purpose is to make the minimum profit if the market moves our way with the smallest risk. (I've already done this part)
2. Enter after confirming a reversal.
3. Exit half at 4.2. If we confirm reversal here, we will also exit with the remaining half.
4. If we see a continued uptrend, exit at 5.3, our final target price.
Stay tuned to see the result :)
Note
With the current bearish movements of the crypto market, ZRO also dropped inside the supply zone which is nice for us. We will wait and check for an additional drop.
Trade active
With chance of winning leaning heavily towards Trump with 85%, crypto market is showing great uptrend with BTC recording new ATH.
BTC is still above its old ATH with the staggering price of 74.4k.
Trump won 210 electoral votes so far, only 60 remaining to win the race.
Swing states such as Georgia, North Carolina, and Pennsylvania and even Arizona are leaning towards Trump at this moment. Penn state and Arizona still have a high probability of Harris winning but it seems game is almost over at Georgia and North Carolina with more than 80% of the votes being processed.
US indices as well as Dollar are also showing an aggressive uptrend as the Republican candidate leads the race.
I've entered ZRO now, though I think I should've been more patient.
I should've at least waited for the election to end, make sure we see three consecutive bull candles in the Daily chart.
But I found the current dynamics of the election and the movements of the crypto market and ZRO convincing enough to enter now.
I'm going to stay for at least 3-4 weeks from now and see how it turns out.
Note
ZRO is looking good. I will keep the post updated according to the movements.
Note
ZRO is looing good, entering 3.8 as I write!
Note
Want to update on ZRO here,I've personally exited all my position at price of 3.99 yesterday.
Wanted to lock in the profit because past movements suggest there might be a pullback in near future and I know the limit of my mental strength😅
We now see a great pressure around the market including BTC and DOGE - ZRO is also showing a bearish pressure.
However, my target remains the same.
My initial plan for ZRO was to stay at least 3-4 weeks and I apologize for leaving earlier, but the market was much more aggressive than I expected and that is not good.
Easy money means easy loss.
God bless you :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
God bless you :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.