BINANCE:ZILUSDT   Zilliqa / TetherUS
This is another trade that I'm watching but not yet entering. It's currently in a parabolic move on a shorter timescale and I'm looking for a breakdown of that, to retest $0.027 support and hopefully also a larger parabolic support line which could send this one shooting up to $0.06 within a month or two. There's more potential upside so if it's successful to that initial target I'd probably sell half and let the rest ride for another wave to around $0.085 or more. If we really get a parabolic advance it's possible for wave 3 itself to shoot straight to $0.085 or beyond, so lots of upside potential here.
Comment:
WAVE 3 blasted beyond expectation, past the 2.618 extension of wave 1. We need more retrace but this now looks very bullish with an enhanced target of around 0.132 as a 1:1 extension of wave 3, assuming wave 4 retraces to golden pocket.

I think we need a wide buy zone from 0.5 to 0.786 retrace, but weighted heavily in the golden pocket.

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.