What you see here is a falling wedge with a target of $1.00 with more confluence for a short trade.
Between $0.94 AND $1.00 is where the trade should be made.
Confluence:
- Old POC ( not a naked POC )
- VAL slightly below.
- Daily level
- Target falling wedge
- Fibonacci Time on start/finish falling wedge
- Fibonacci Fan
- And the big one: the golden pocket.
With all those reasons I think it provide a good trade opportunity. This potential reverse zone ( where price is likely to fall ) is not small so you have to wait on confirmation on the smaller timeframe for the perfect entry. ZRX is in a bear trend in the bigger timeframe which helps the trade to succeed.
Target should be below $0.6.
Edit: Fib time label 25 of March should be 25 of April of course.
ZRXUSD
Between $0.94 AND $1.00 is where the trade should be made.
Confluence:
- Old POC ( not a naked POC )
- VAL slightly below.
- Daily level
- Target falling wedge
- Fibonacci Time on start/finish falling wedge
- Fibonacci Fan
- And the big one: the golden pocket.
With all those reasons I think it provide a good trade opportunity. This potential reverse zone ( where price is likely to fall ) is not small so you have to wait on confirmation on the smaller timeframe for the perfect entry. ZRX is in a bear trend in the bigger timeframe which helps the trade to succeed.
Target should be below $0.6.
Edit: Fib time label 25 of March should be 25 of April of course.
ZRXUSD