ZenCash BTC
Warning: This is a high risk trade, because Zen has hardly any history, and BTC is misbehaving lateley. The risk is extra high because of these two points.
Looking at Zen, we see that it bounced earlier, and it in a strong trend upwards. I did not see it before, but we’re still on time to add during a pullback.
Here’s the plan!
We see Zen is having a strong trend up. So we need to see if we can jump into this trend.
We see that Zen has bounced when it formed a support (letter A) and then it failed to go up. Another try to hit on support was rejected ( letter B) and from then the trend started. We see it continues, as RSI is showing higher lows.
ADX is going up firmly.
MACD-H is a little bit neutral, showing the result of the consolidation after the large green bars. Time to find out entry!
How did we find our entry?
We have to get in, by zooming in on a shorter timeframe. I took the 10m chart. I found the price is hitting -1 ATR now and then, these are marked with rectangulars. While I was writing this,
the rectengular on the right was not hit, but while I was writing my post my buy was already filled. ATR channels are really helpful to place your buy orders!
The Stoploss is set somewhat below the support line.
The trade is active.
Risk Reward Ratio:
Entry level: 0.003067
profit target 1: 0.004327
Stop Loss: 0.002489
R/R ratio: 1: 2.2
Warning: This is a high risk trade, because Zen has hardly any history, and BTC is misbehaving lateley. The risk is extra high because of these two points.
Looking at Zen, we see that it bounced earlier, and it in a strong trend upwards. I did not see it before, but we’re still on time to add during a pullback.
Here’s the plan!
We see Zen is having a strong trend up. So we need to see if we can jump into this trend.
We see that Zen has bounced when it formed a support (letter A) and then it failed to go up. Another try to hit on support was rejected ( letter B) and from then the trend started. We see it continues, as RSI is showing higher lows.
ADX is going up firmly.
MACD-H is a little bit neutral, showing the result of the consolidation after the large green bars. Time to find out entry!
How did we find our entry?
We have to get in, by zooming in on a shorter timeframe. I took the 10m chart. I found the price is hitting -1 ATR now and then, these are marked with rectangulars. While I was writing this,
the rectengular on the right was not hit, but while I was writing my post my buy was already filled. ATR channels are really helpful to place your buy orders!
The Stoploss is set somewhat below the support line.
The trade is active.
Risk Reward Ratio:
Entry level: 0.003067
profit target 1: 0.004327
Stop Loss: 0.002489
R/R ratio: 1: 2.2
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.