ZECUSD Rising Wedge and Fall Back Into Previous Channel SHORT 4H
Updated
ZEC was in an upward channel and broke out of this channel on the 4H.
A rising wedge then developed and ZEC broke under support and back into the triangle. In addition a bearish H & S formed.
We can also see bearish divergence on the RSI . (HH and LH)
Target set slightly less than height of the rising wedge formation and SL set above the channel.
A rising wedge then developed and ZEC broke under support and back into the triangle. In addition a bearish H & S formed.
We can also see bearish divergence on the RSI . (HH and LH)
Target set slightly less than height of the rising wedge formation and SL set above the channel.
Note
SL Hit.
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