Zilliqa (ZIL) | After the breakout, bullish divergence flashedHi dear friends, hope you are well and welcome to the new trade setup of Zilliqa (ZIL).
Breakout from channel and SMA resistance:
On a daily time frame, Zilliqa has broken out a down channel with bullish divergence, as the priceline is forming lower high but on the other hand RSI is setting higher high. There is also 100 daily simple moving average resistance above the price action as well.
Big bullish Gartley pattern flashed:
On a weekly time frame chart, ZIL has formed bullish Gartley move. To trade this pattern the targets can be as below:
Note: This Gartley move was originally shared on 18 Dec. Now the priceline is geared up, but you can still follow the sell targets
Buy and sell targets:
Buy between: $0.0690 to $0.0507
Sell between: $0.0948 to $0.1221
Stop loss:
Below $0.0507
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of up to 140.5% , and loss possibility is 27%.But right now the priceline is at the very end of buying zone, therefore it can be a high reward and low-risk trade plan.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
