Make sure to avoid FOMO trading & focus on confirmation before entering the trade. If price travels above our SL before reaching entry point, then avoid trading this setup & reevaluate for next position. Don't forget to take profits in batches & ideally trail SL starting from 2nd TP.
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ENTRY : 200-202 TP1 : 196 TP2 : 193 TP3 : 187 SL : 212 *$SOL nears the major resistance zone and buyers seems to be losing their confidence, potentially now forming lower high on 4HR TF. Selling volume is also picking up, with RSI(6) curving downwards. MACD is also now bearishly crossed over, further indicating towards a trend change. Watch closely for price retracement & enter short trade with confidence, especially if bulls fail to claim above $204 level.
resistance at 374 level, landing price towards current
level at 324. Previously when price reached this high
it crashed over -91% over the period of 2-3 months.
$ZEC has been non-stop climbing in the upward
trajectory without major pullback and that's alarming,
because all the early buyers who betted are probably
now exiting at this current in fear of losing their gains.
On weekly chart, RSI(6) has also started to curve on
the downside, with volume slowly moving towards
bearish side. MACD is also too far stretched out,
meaning that it will also start to correct as traders
begin their selling due to fear of getting trapped
and new buyers will be hesitant to buy at this level. Short Trade Setup : Entry zone : $325-$330 TP1 : 290 TP2 : 250 TP3 : 210 TP4 : 111 SL : $409
Trade $ZEC
Make sure to avoid FOMO trading & focus on confirmation before entering the trade. Don't forget to take profits in batches & ideally trail SL starting from 2nd TP.
If you find this post helpful, please like, share & follow so I'll keep you guys posted. Thank you for your support & love!