Driftline — Trading Ideas on TradingView

ZORA 5-Wave Completion — 30% Crash Incoming?After exploding +1150% in just 20 days and completing all 5 waves, ZORA is now consolidating — trading sideways just under the $0.10 psychological level for the past 4 days. 📉 Current Market Structure The current structure shows signs of a developing Head & Shoulders pattern, with price: Trading below the daily open (dOpen) and weekly open (wOpen) → Bearish signs Hovering near the prior daily open (pdOpen) → a breakdown here would confirm bearish continuation 🔴 Short Setup - Bearish Scenario If ZORA breaks below pdOpen, we’re likely heading for: 0.618 Fib retracement at $0.06137 of the final wave 5 Confluence with 1.272 Trend-Based Fib Extension (TBFE) at $0.06148 This zone marks the next high-probability reaction point and a potential long opportunity if price shows a bounce or reversal. 📉 Overall Short Trade Target The full retracement target sits between $0.0529 and $0.0514, offering multiple layers of confluence: 0.5 Fib retracement of the full 1150% move 0.786 Fib retracement of the final wave 5 Aligned with an old trading range and daily level This makes it an ideal demand zone for patient bulls but only once price confirms. 💡 Educational Insight This setup highlights an example of Elliott Wave Theory in action — after a strong 5-wave impulse move, markets often enter a corrective phase. The completion of wave 5, especially near key psychological levels like $0.10, often marks a local top, where price corrects toward key Fibonacci retracement zones. Combining wave structure with confluence factors like Fib levels, VWAP, and prior trading ranges helps traders identify high-probability reversal zones — allowing for better timing, risk management, and trade planning. Always wait for confirmation before jumping into any trades. Summary Bearish continuation confirmed on pdOpen breakdown First support zone: $0.0613–$0.0614 Final downside target: $0.0529–$0.0514 Look for long opportunities only on reaction + confirmation _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.

ZORA — Parabolic Rally Nearing Exhaustion ZORA has been on an explosive run, pumping +1239% in just 20 days. But after such a vertical move, the question is: Is this rally nearing exhaustion? Let’s dive into the technicals 👇 🧩 Elliott Wave Structure Looking at price action through the lens of Elliott Wave Theory, ZORA appears to be completing its 5th wave: ➡️ Wave 3–4 zone: Held around the $0.05 trading range ➡️ Wave 5: Now pushing into the $0.097–$0.103 zone This area aligns with: The 1.618–2.0 Fib extension pocket — a typical exhaustion zone for wave 5s The $0.10 psychological level 🔴 Short Trade Setup This zone between $0.097–$0.103 is the ideal reversal area to consider shorting, with clearly defined targets and confluence: Entry: $0.097 – $0.103 Stop-Loss: Above the 2.0 Fib Extension TP1: Around $0.08 TP2: Around $0.064 Confluence: TP1 Daily Open (dOpen) 0.786 Fib of the local move 0.382 Fib of the 5-wave structure TP2 (Lower Target): 0.618 Fib retracement of the 5-wave move at $0.064 Risk-to-Reward: TP1 gives an R:R of 1:8 TP2 offers potential 1:13+ Watch for signs of weakness. _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.

SOL — Bullish Retest in Motion: Time to Strike?SOL has finally broken through the $180 barrier decisively — a key zone it failed to clear back in May. Now we’re seeing a retest, which may offer one final dip before continuation. Let’s break down the next high-conviction long opportunity. 🧩 Key Retest Zone: $182–$180 ➡️ Retesting Prior Resistance as Support SOL broke above $180 with conviction and is now pulling back. ➡️ First Reaction at $184 A clean bounce occurred at the anchored VWAP, but this might not be the final low. ➡️ Strong Confluence at $180–$182 Zone This zone is packed with support elements: Weekly Open (wOpen): $181.44 nPOC: $180.85 Anchored VWAP: ~$179.90 0.5 Fib retracement (of the larger wave) 0.786 Fib retracement (of the smaller wave) 0.618 Fib Speed Fan — projected for tomorrow’s price path 1H 200 & 233 SMAs supporting from below SOL is currently trading at yOpen — another key pivot level to watch 🟢 Long Trade Setup Entry: Laddered between $182–$180 (ideal long entry would be at wOpen) Stop-loss: Invalidation at $173.35 Target (TP): TBFE 1.0: $218.45 / 0.618 Fib retracement: $219.21 R:R: ~1:4.5 Potential Move: ~+20% 🛠 Indicator Used: DriftLine — Pivot Open Zones For this analysis, I’m using my own published indicator called "DriftLine – Pivot Open Zones " feel free to check it out on my profile. It helps identify and visualise critical opens (daily, weekly, previous days), providing real-time support/resistance zones. ➡️ You can use it for free — just check my profile under “Scripts” and add it to your chart. 💡 Pro Tip: Support Zones Are Stronger with Confluence Don’t rely on a single fib or level. When opens, VWAPs, SMAs, and fibs cluster, the probability of a strong reaction increases. This is how smart traders define clear entries and invalidation. _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.