Last week the support level did not break (yellow zone) and resulted a huge jump.
Early this week we saw the sellers were back in the market, however they didn't have enough momentum to push the price lower.
Based on today's chart reading, $14.63 is a good area to sell.
Stop Loss will be at $14.83 and Take Profit is at $14.20
This will give us RRR = 2.17R
If you are still holding your short position from last week, it is time to manually close it.
The price was stopped at $13.28 area where it formed "W" or mini double-bottom; does this mean a reversal to be bullish?
My upper limit is at $13.82, if the price breaks and close higher that $13.82, then YES, it is likely to be bullish.
However, if the price broke the...
Last week prices went down hard, I didn't anticipate to go down that fast. It broke the structure and the major trend is now a Down Trend.
There more opportunity to short the market until it reaches $12.93
Here is my trade this week:
Sell Limit at $14.37 area (you can short now too)
Stop Loss at $14.76
Take Profit at $12.93
Risk Reward Ratio = 3.68R
Last week the seller fought back with momentum, it broke the support level $15.00 and going down further.
Normally after a series of drop in price, we will wait until the price normalizes (this is where "short" trader will take profit by buying back).
From the current price movement, we can wait and ready to short again at $15.00 area and our target to take profit...
Last week price broke the channel and continuing upward consolidation.
Yesterday we saw an aggressive move by the Seller, however, it doesn't mean that the price will plunge straight-away.
However, feel free if you want to short it now; in my view, the best level to short is at $1585 level/area. That's where your RR is more favourable.
So here is the signal for...
This week we are anticipating the price to range in a downtrend channel.
If the price breaks the channel (upward), then the immediate target is at $1600 level.
However, if the price continues ranging in the channel; let it springs up to $1540 area, then we can short it (Higher probability it will break the support level).
For now, just wait and see.
PS: If you...
Our trade last week was successful, it takes a week to finally hit our Profit Target.
Now the price is reaching the flip zone or demand zone; I would anticipate the price will have some rejection in this area.
This week we will LONG ZSN2021, here is my trade:
Buy now at market
SL is at $14.86
TP is at $15.45
RRR = 2.45R
Always move your SL when:
1. You see a...
This morning during Asian market, volatility was low and structure wise, it is trending down to break the $15.82 support level.
I am on bearish bias and will place a spot short order:
Stop Loss at $16.13
Take Profit at $15.08
RRR = 2.39R
It may not be a short drop, protect your profit when you are already in profit zone.
I will update again...
This week onwards we are using ZSN2021 chart.
In H4 charts we can see the rejection candle at $16.00 however there is no seller yet.
Prices are ranging in a tight range and the only sign for bearish if the price is closed at or below $15.60
For the time being, not much movement on Monday. We shall see the candle movement in the next few hours.