$ZEC Price is currently trading around 828.59 (+0.03% in consolidation). On the H1 chart, price rejected recent local highs near ~890 and is establishing a lower high structure. The expected price action anticipates a relief bounce up to retest the overhead supply zone before resuming its primary downward leg toward lower support targets.
๐ Trading Plan (Short Setup):
Short Entry Zone: 843 โ 857
Stop Loss (SL): > 878
๐ฏ Take Profit Targets:
TP1: 796 โ 806
TP2: 756 โ 766
๐ After failing to break above the major resistance around ~890, the market shifted into a corrective phase. A temporary pullback into the overhead order block offers a favorable risk-to-reward ratio to position for the next bearish leg down.
๐ The primary entry confluence lies between 843 and 857. Waiting for price to test and get rejected within this zone provides an optimal short setup.
๐Key Invalidation (SL): A clean push and candle close above 878 invalidates this Short setup, indicating a potential reversal back to macro bullish control.
Click here to view the chart ๐๏ธ๐๐
๐ Trading Plan (Short Setup):
Short Entry Zone: 843 โ 857
Stop Loss (SL): > 878
๐ฏ Take Profit Targets:
TP1: 796 โ 806
TP2: 756 โ 766
๐ After failing to break above the major resistance around ~890, the market shifted into a corrective phase. A temporary pullback into the overhead order block offers a favorable risk-to-reward ratio to position for the next bearish leg down.
๐ The primary entry confluence lies between 843 and 857. Waiting for price to test and get rejected within this zone provides an optimal short setup.
๐Key Invalidation (SL): A clean push and candle close above 878 invalidates this Short setup, indicating a potential reversal back to macro bullish control.
Click here to view the chart ๐๏ธ๐๐
