High sell volume + O.I drop
The idea is the same as previous trades. We look for high volume with open interest divergence. ZEN has rallied with a decent volume, but O.I is not up to the mark. This suggests the recent rally was mostly short covering.
If we manage to close above 42.8 I'd close my short/ if the O.I catches up. Take profit is at 0.6 retracement of the current range.
If we manage to close above 42.8 I'd close my short/ if the O.I catches up. Take profit is at 0.6 retracement of the current range.
Trade closed: target reached