$ZEC 1H/4H Long Trade Idea
Long Trade Idea
Since ATH - price entered a downtrend making series of LHs and LLs.
The goal of this downtrend was to mitigate previous demand range, (grey area) from prior Break of Structure), ultimately tapping a 1H Orderblock right at the bottom of the range.
On 1H timeframe, price has printed a break of structure with a candle body close - signalling a potential reversal.
Trade idea is a 618/65 or 786 retrace into the demand range/4H Orderblock (highlighted in blue), targeting the 4H liquidity above built up during the downtrend (represented by the curve).
Entry criteria is a 5m/15m market structure shift at either of these fib levels / in the 4H OB. Wait for confirmation of a bounce before entering - don't try and catch the knife.
TP zones could be last 4H swing low, or 618/65 and 786 Fib retracements from ATH down to swing low (in the 1H OB).
#zec
Long Trade Idea
Since ATH - price entered a downtrend making series of LHs and LLs.
The goal of this downtrend was to mitigate previous demand range, (grey area) from prior Break of Structure), ultimately tapping a 1H Orderblock right at the bottom of the range.
On 1H timeframe, price has printed a break of structure with a candle body close - signalling a potential reversal.
Trade idea is a 618/65 or 786 retrace into the demand range/4H Orderblock (highlighted in blue), targeting the 4H liquidity above built up during the downtrend (represented by the curve).
Entry criteria is a 5m/15m market structure shift at either of these fib levels / in the 4H OB. Wait for confirmation of a bounce before entering - don't try and catch the knife.
TP zones could be last 4H swing low, or 618/65 and 786 Fib retracements from ATH down to swing low (in the 1H OB).
#zec