$ZEN : Preparing to go SHORT due to exhaustion.
ZEN is showing clear signs of exhaustion after reaching a 24h high of 7.575, with the 1h RSI(6) at an extreme 91.36, indicating a parabolic climax top. I'm looking for a mean reversion trade as price struggles to stay above the MA7 support on the 15m chart.
Entry: 7.407 – 7.601
Stop Loss: 7.981
TP1: 6.950
TP2: 6.495
Click here to trade 👇
ZEN is showing clear signs of exhaustion after reaching a 24h high of 7.575, with the 1h RSI(6) at an extreme 91.36, indicating a parabolic climax top. I'm looking for a mean reversion trade as price struggles to stay above the MA7 support on the 15m chart.
Entry: 7.407 – 7.601
Stop Loss: 7.981
TP1: 6.950
TP2: 6.495
Click here to trade 👇