ZEC retraced much further as expected but is trying hard right now to break out. It alreay had some failed attempts but after the last one, its showing a trend continuation pattern. Breakout of this smaller pattern would be a strong buy.
Buy the breakout and not earlier! Market is very tricky right now due to BTC/BCC clash Check my link below for more information how to trade break outs. SL below 0.055 Target can be determined on smaller timeframe once breakout is a fact.
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Possible fiirst target based on Fibonacci extensions:
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I dont trust this channel what is forming, maybe I'm wrong but my SL is under the blue trendline. Could fall back under the yellow trendline (donwtrend channel). If it hits my SL, we'll just look for next chance.
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Yep, its retracing as I expected yesterday..... Watching for bounce on yellow trendline based on fibonacci extensions
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Forming a bullisj pattern right now, get ready for next break out! According to my calculations, I'm expecting a bounce in the small blue box. If it bounces, wait for a break out at (5) for next target which is on the chart. I just calculated these areas and to my surprise, they are more or less the same as on previous charts ;-)
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first target reached. will look for bigger picture later today
Interesting, I also think that it is going to break out soon but that still needs to retrace a bit more. I believe that we are are right now in subwave 3 of wave C, so still 4 and 5 to go before a new motive wave starts that I think could take us back to 0.17 ;)