ZS short term upward reversal.
Updated
ZS is trying to reverse downtrend. Bearish upthrust has been weakening over the last two weeks and price has already set daily higher low on the pre-market. For reversal to happen bulls must protect 192.5 and build value above 196.
If the reversal happens it will probably not to last long as we're in a monthly consolidation. But it still can provide some nice profit
Example of a possible trade is shown on the graph.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
If the reversal happens it will probably not to last long as we're in a monthly consolidation. But it still can provide some nice profit
Example of a possible trade is shown on the graph.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Note
The odds have slightly shifted towards bearish scenario. On the positive side - bulls managed to set daily higher low and protected 192.5. On the negative - price rejection was quite strong. If you're NOT in this trade it makes sense to stay away for a while. If you're already in, there is still a chance it will work out but consider some risk mitigation actions (reducing position, partial profit taking)
Trade closed: stop reached
didn't work out
Disclaimer
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