$ZEC just made a massive vertical move out of nowhere, and the current 4-hour bar looks like it's taking a breather after hitting local resistance. I see the aggressive long position setup projection on the chart, but jumped straight into a trade without waiting to see how this consolidation handles itself feels a bit hasty.
Current Price: 839.65
Target/Resistance Level Shown: 1,444.46
Lower Support Levels Highlighted: 745.32 and 686.09
Invalidation / Base Level: 549.85
The risk-to-reward ratio mathematically looks strong because the target at 1,444.46 is huge, but sitting through an 18% drawdown down to 686 is a tough pill to swallow if this turns into an exhaustion top.
Current Price: 839.65
Target/Resistance Level Shown: 1,444.46
Lower Support Levels Highlighted: 745.32 and 686.09
Invalidation / Base Level: 549.85
The risk-to-reward ratio mathematically looks strong because the target at 1,444.46 is huge, but sitting through an 18% drawdown down to 686 is a tough pill to swallow if this turns into an exhaustion top.
