📈 How I Surfed the ZORA Wave and Made Profits! 🚀 I wanted to share with you one of my latest trades that left me with solid profits and a valuable learning experience. Recently, I dove into the cryptocurrency ZORA, which was showing a clear upward trend.
The interesting thing about this trend is that, although it was predominantly green, it had some red candles interspersed, even a couple of them in a row! This might scare some people, but it was key to my strategy. I noticed that most of these red candles touched the 7-period moving average, and on a couple of occasions, they even touched the 25-period moving average. Meanwhile, the 99-period moving average remained quietly below, confirming the overall strength of the upward trend.
I decided to go long at 0.0771800 and, after a favorable rise, I closed my position at 0.078963. The result: a profit of 19.89 USDT!
This trade reaffirmed the importance of:
Identifying clear trends: Despite minor corrections, the main direction was upward.
Using moving averages as guides: The 7 and 25-period ones gave me entry points and confirmation.
Not panicking over red candles: Often, they are just healthy pullbacks within a strong trend.
What do you all think? Do you also use moving averages in your analysis? I would love to read your strategies and experiences in the comments!
#Cryptocurrencies #Trading #ZORA #BinanceSquare #TechnicalAnalysis #Profits
