ZClassic (ZCL) - The Top Is Near - Consolidation then What Next? Support and Buy Zones

The Top Is Near! Don't get caught

Based on 5 waves we see, we count 5 Elliot wave impulse motive waves up and only have this information to currently work with. We have some established buy zones based on the 382 and 0.5 fib levels where we also find support based on price action.

The daily chart shows bearish signs on RSI and MACD with a hanging man candle forming, which signals bulls are losing control.

If this is indeed the top, these are buy zones based on previous price action, activity, and fibonacci retracement targets.

Though bear in mind that there's always the possibility of extended waves which can cause a rally to the 18 - 20 ranges.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Really appreciate the upvote and support on steemit.

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Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.

The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.