ZRO, start of a bull run? (1D)
Hello, fellow traders!
We see ZRO nearing to its supply zone - the price may reverse now and start a bull run or it might continue the decline further down and reverse there.
In my opinion, it is safe to enter now - but! There are several things to keep in mind.
1. When entering trade, enter with only small portion of your entire balance to manage risks. If you are using leverage, do not overlook the possibility of liquidation.
2. Enter only after you confirm the reversal & start of a trend. Do not make assumptions.
3. Current crypto market will be heavily impacted by the US election that is only few hours away. Depending on the outcome, market may move either direction.
Here's what I'm going to do.
1. Enter now with small amount, small leverage - this is our picket ship. We do not intend to make major profit out of it, its only purpose is to make the minimum profit if the market moves our way with the smallest risk. (I've already done this part)
2. Enter after confirming a reversal.
3. Exit half at 4.2. If we confirm reversal here, we will also exit with the remaining half.
4. If we see a continued uptrend, exit at 5.3, our final target price.
Stay tuned to see the result :)
We see ZRO nearing to its supply zone - the price may reverse now and start a bull run or it might continue the decline further down and reverse there.
In my opinion, it is safe to enter now - but! There are several things to keep in mind.
1. When entering trade, enter with only small portion of your entire balance to manage risks. If you are using leverage, do not overlook the possibility of liquidation.
2. Enter only after you confirm the reversal & start of a trend. Do not make assumptions.
3. Current crypto market will be heavily impacted by the US election that is only few hours away. Depending on the outcome, market may move either direction.
Here's what I'm going to do.
1. Enter now with small amount, small leverage - this is our picket ship. We do not intend to make major profit out of it, its only purpose is to make the minimum profit if the market moves our way with the smallest risk. (I've already done this part)
2. Enter after confirming a reversal.
3. Exit half at 4.2. If we confirm reversal here, we will also exit with the remaining half.
4. If we see a continued uptrend, exit at 5.3, our final target price.
Stay tuned to see the result :)
Comment
With the current bearish movements of the crypto market, ZRO also dropped inside the supply zone which is nice for us. We will wait and check for an additional drop.
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.