ZCL/BTC Setting up for GOOD BUY on the 4 Hour Potential Profit!
Updated
ZCLBTC has been in a solid move up since early February. It has had a sharp retracement and perfectly hit the 38.2 Fib Retracement (Overlaid) and 0.0156 Support level (Red Line) as well as the 20ema (Blue Line). This has set a solid base and we have seen price bounce away immediately forming as a pin or low test bar. This is a nice bullish signal for us and we need the $ HR Bar to close above 0.0160 to confirm the buy signal.
Entry for us is the top of this four hour bar at 0.01668, (or above)
Stop Loss below the bar at 0.1540
Target 1 is 0.0181 (Black line)
Target 2 0.01931 (Higher Black line)
For you to make dollars your decisions need to make sense. The close of the bar falls below our level its no longer a bullish signal, and we need to wait for the next bar and hope for a decisive (Closes by the top) Buying bar (Green). You may be able to go to the 1H chart and find an earlier entry. Just remember that the lower the timeframe, the closer the stop loss. This equals better reward to risk, and a higher % of losses.
Entry for us is the top of this four hour bar at 0.01668, (or above)
Stop Loss below the bar at 0.1540
Target 1 is 0.0181 (Black line)
Target 2 0.01931 (Higher Black line)
For you to make dollars your decisions need to make sense. The close of the bar falls below our level its no longer a bullish signal, and we need to wait for the next bar and hope for a decisive (Closes by the top) Buying bar (Green). You may be able to go to the 1H chart and find an earlier entry. Just remember that the lower the timeframe, the closer the stop loss. This equals better reward to risk, and a higher % of losses.
Note
We just seen the close we wanted at .0160Trade active
We have just broke resistance level and I opened a position. We had a very big take off.Note
We are on the way to .0181I also just noticed there is a mistake above with stop loss level its .0154 but this was for those that bought in at top of bar .0160 so you can make it a little tighter.
Enjoy the profits everyone
Note
We have experienced a retrace here and an affect of the BTC going up.Volume is building again and we are back into a buying range.
Note
Order book looks good and strongNote
We are just testing a new level here this is normal give the trade time.Note
WE will just have been taken out of this trade for a loss. My apologies i have missed this we should have moved entry and SL to the next bar after it formed. We would still be in trouble but its a better trade.Note
ZCL initially on the TA this looked strong and indicators were correct. However we had purchased into what looks to be a false breakout, or the bitcoin run last night dropped the trade.
I just wanted to update this as I nearly reposted it this morning when i looked at charts, as you will see on the chart below with the time. The trade looks quite strong.
I thought i would publish the below so you have new targets incase anyone trading this still.
Having run up around the start of the year ZCLBTC has ranged for until recently. It has now broken the 0.0156 resistance level to put in a new recent high, (Orange Arrow up) It has then reversed to the 0.0156 level (orange Arrow down) giving us a higher low. We are looking for a decisive buying bar (closes by the top) on the daily, 4H or H chart. If we get that I will but when price takes out the high of the bar, with SL 0.0149
Trade on D/4h or H Chart
Entry: First decisive buying bar, buy above the high of the bar
SL below the low of the bar
Target 0.0230
I will post updates as we go.
Note
I didn't publish this as a buy signal even though the trade is developing nice more to update those in it and people that decide to enter.Note
It looks to have bounced off the next Horizontal level down and Fib Retarcement. If you hung around and got the trade good on you. It has spiked nicely from the levels.We may have been a level to early, always good to review and learnNote
We are about to arrive at target 1Note
Target 1 achieved, Just
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