ZRX making a perfect H&S pattern. This pair is looking like a sell.
1. Below red cloud
2. Blue above Green (ichimoku lines)
3. price below blue and green lines
4. A horizontal support below the 3 peaks usually means a downward trend
5. (biased) pair still needs more of a pullback
6. BTC is currently falling
7. 200 ema about to line up perfectly with H&S support line (15100)
8. Falling volume
Setting Sells at 15100 and more at the 14200 (yellow lines).
As much as I love ZRX, I think this pair is short-term bearish
1. Below red cloud
2. Blue above Green (ichimoku lines)
3. price below blue and green lines
4. A horizontal support below the 3 peaks usually means a downward trend
5. (biased) pair still needs more of a pullback
6. BTC is currently falling
7. 200 ema about to line up perfectly with H&S support line (15100)
8. Falling volume
Setting Sells at 15100 and more at the 14200 (yellow lines).
As much as I love ZRX, I think this pair is short-term bearish
Trade closed: stop reached:
As you can see it is always important to use a stop loss. Although I didn't indicate my stop in the post, it was definetly hit. Couldn't have predicted the great news the project got a few hours ago. Hope ya'll have a longterm bag and happy trading!