ZRXUSD - LONG SETUP
Updated
I missed the previous entry but this double correction is a good opportunity.
I want to be very clear here that there is no bullish sequence in 1h and 4h. This is counter-trend and I take the trade because I already made a profit in daily trade and that adding here does not make me take any risk here.
The exact level was proposed in previous idea (linked below) and in our patreon.
I want to be very clear here that there is no bullish sequence in 1h and 4h. This is counter-trend and I take the trade because I already made a profit in daily trade and that adding here does not make me take any risk here.
The exact level was proposed in previous idea (linked below) and in our patreon.
Trade active
ZRXUSD bounced from proposed levels. In lower time frame .05428 low held during US session. Will see through the weekend. Position and stop unchanged.Note
Some concern here. Count has been updated with the probable new low. Still see 0.3487 to hold here. Possibly a FLAT for the green 1-2 connector in the correction from 0.7561.Note
Please see latest idea in ZRXUSD.Perfect example of a count that proved to be wrong by the market (see amended count) but the trade is great. We entered 0.5221 and 0.4762 based on this count with stop 0.4020. The last dip made me rethink the count as said but once you are in a trade, the count does not matter anymore.
So much to learn from this example, a chart is the most plausible path at a given time with the current conditions. A chart cannot be wrong (if the art is mastered) when issued, but it may need to evolve.
I always say to my patrons, do understand the chart and what it means: do not see a turn at this level on the chart and trade it! It's like you driving a WRC car in a rally with the best co-pilot in the world: you will probably crash at the first corner even if you can drive...)
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