๐จ๐ฅ ZEC +23%: IS THERE STILL AN ENTRY OR IS IT TOO LATE?
Zcash ($ZEC ) exploded again after the FOMC and is showing impressive relative strength.
๐ ZEC: ~$1.369
๐ฅ +23% in 24H
โฟ BTC: ~$76K
๐ฐ Even a whale added approximately $3.8M to its long position in ZEC today.
๐ MY TRADE
I went LONG on ZEC after confirming the breakout and seeing that volume supported the move.
Why?
Because I didnโt want to buy the first candle of the move up. I preferred to wait for confirmation and see if the price could hold above the breakout zone.
My idea is simple:
๐ข Entry: $1.340โ$1.370
๐ฏ TP1: $1.450
๐ฏ TP2: $1.550
๐ฏ TP3: $1.650
๐ SL: $1.215
The key point for me is how price behaves after the impulse.
If ZEC holds the breakout zone and volume keeps coming in, there may still be more room to run.
But if it loses support and volume disappears, Iโd rather exit before turning a trading setup into a forced investment.
โ ๏ธ Iโm not chasing the candle. Iโm trading confirmation.
And now I want to see what Square is doing:
๐ LONG ZEC
๐ SHORT ZEC
๐ WAIT FOR A PULLBACK
๐ Whatโs your trade?
Share your trade with the Trade Sharing Widget and drop your entry in the comments.
#ZEC $ZEC
Zcash ($ZEC ) exploded again after the FOMC and is showing impressive relative strength.
๐ ZEC: ~$1.369
๐ฅ +23% in 24H
โฟ BTC: ~$76K
๐ฐ Even a whale added approximately $3.8M to its long position in ZEC today.
๐ MY TRADE
I went LONG on ZEC after confirming the breakout and seeing that volume supported the move.
Why?
Because I didnโt want to buy the first candle of the move up. I preferred to wait for confirmation and see if the price could hold above the breakout zone.
My idea is simple:
๐ข Entry: $1.340โ$1.370
๐ฏ TP1: $1.450
๐ฏ TP2: $1.550
๐ฏ TP3: $1.650
๐ SL: $1.215
The key point for me is how price behaves after the impulse.
If ZEC holds the breakout zone and volume keeps coming in, there may still be more room to run.
But if it loses support and volume disappears, Iโd rather exit before turning a trading setup into a forced investment.
โ ๏ธ Iโm not chasing the candle. Iโm trading confirmation.
And now I want to see what Square is doing:
๐ LONG ZEC
๐ SHORT ZEC
๐ WAIT FOR A PULLBACK
๐ Whatโs your trade?
Share your trade with the Trade Sharing Widget and drop your entry in the comments.
#ZEC $ZEC