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ZCASH ZECBTC 1H DOUBLE PITCHFORK STRATEGYStep #1: Draw the double Pitchfork channel The first thing that we need to pay close attention is how we select our swing points. We only want to choose significant swings on the Zcash chart. Once you locate the four swings, merely use the Pitchfork indicator to draw the double Pitchfork channel. There is a simple reason why we use two Pitchfork channels. Our team at TSG has discovered that the Pitchfork indicator has limited power in forecasting future price movements. However, by using this simple trading trick to combine two Pitchfork indicators together, we eliminate a lot of the drawbacks that come with this unique technical indicator. Step #2: Wait for Zcash price break above the 1st Pitchfork channel At this stage, if the two pitchfork channels overlap don’t get confused about it. The 2nd pitchfork is darker color. Wait for the Zcash price to break above the 1st pitchfork channel. We want to see a big bold breakout candle that closes above the 1st Pitchfork channel. Step #3: The Zcash price needs to trade below the median line (2nd pitchfork channel) on a closing basis. The median line of the second pitchfork channel needs to hold the upside and provide us with strong resistance. As a general rule, as long as we trade NEAR the median line, we’re good to go even if for a brief period of time we still break above the resistance line. Most of the time, the Zcash price will gravitate towards the median line back and forth, so we need to take that into consideration if we want to trade cryptocurrency strategies successfully. Step #4: Buy at the market or stop order as soon as we break below the 2nd Pitchfork Channel bottom support line. How to buy/sell Zcash is simple. With our entry technique, we sell at the market or stop order when we break below the 2nd Pitchfork Channel bottom support line. The advantage of this cryptocurrency entry strategy is that we sell when the momentum is in our favor. Step #5: Place protective Stop Loss above the 2nd Pitchfork Channel median line One of the most important things in trading is risk management. So, don’t forget to place your protective stop loss in order to minimize the potential losses. After you sold Zcash ZEC, make sure you add your stop loss order above the 2nd Pitchfork channel median line. Step #6: Take Profit when we touch the median line of the 1st Pitchfork Channel or according to your trading plan Our take profit strategy for successful cryptocurrency trading is easy to implement. We don’t want to take premature profits, but we also don’t want to give back our hard earned profits either. In this regard, we take profits when Zcash price reaches again the median line of the 1st Pitchfork channel or according to your trading plan. Note** the above was an example of a SELL trade using the Zcash cryptocurrency trading strategy. Use the same rules for a BUY trade – but in reverse.
Short
by Tradingstrategyguides
1
ZEC - Inverse Head and ShouldersZEC has a inverse head and shoulders pattern forming as it approaches a major support line which has been crucial for the start of its uptrend in April. If it holds, we should see a reversal in the price action back to the neckline and hopefully further. Based on the head height, I have a set target price of .036. Bullish divergence can be seen on the MACD and RSI, also indicating a change in momentum from the bears to the bulls. Lots of potential with this coin.
by jpbrown1023
ZEC - Hey everyone The D3ADLYTuna is here to poison your minds, so let's look at ZCash. Zec I have been watching for a while now however it has now broken out of the general down trend. I welcome your comments and feedback. Technicals: Volume Good increase over the last few bars. MACD Yes it's pointing down right now but this lines up with the current retracement and we are looking to confirm it turning on the smaller timeframes and sitting at least FLAT on the daily. The reason for this is that I use different settings on my MACD and as a result it is potentially more volatile, but also much faster to give signals than standard crypto settings. RSI Now showing a solid uplift from weakness and again will look for the confirmed flatline and turn here in confluence with the 12hr MACD. Waves I have not shown the waves here however I have left the Fib lines up as this is showing a great 62% retracement on the first wave as shown on the 4hr fib below. Fibs The 4h below shows how the wave has retraced to 62% fib. The daily fib shown here is sitting on another retrace fib line as well. Trend Yes the cloud and indicators show a down trend. We can see the moving averages have converged and action is sitting between the 20ma and 50ma - which are the brighter Red/Green lines. Support At this point it would appear to be a prime entry level but there are several factors to consider here. BTC has technically broken out of the down trend but has neutral action and indicators are about to hit a decision point so we need to see if there will be a break up or down. Lastly, the indicators im reading here are set to identify possibilities, not confirmations. This means that price action could completely break down from this point with the market so this is a space to watch closely for confirmed support and enter at your own risk. In saying that, the daily has shown a considerable amount of time and support at the current fib hence I am confident in making this suggestion. Don't Forget: -Always use a stop loss. -Utilise alerts to notify you when you are reaching your target. -It is common to use no more than 10-20% of capital in any one trade. -Layer your buys to average your entry cost. -Always watch BTC as well as your active trades, if BTC breaks down or pumps hard the market will chase it to the detriment of solid trades. FOMO is real. If you have had success with a trade signal and would like to tip or donate: ETH 0xA931D6F82e37dC459096D68cD6d8414f79840753 If you are not already signed up on the below exchanges you are welcome to join using the below links: Binance bit.ly Cryptopia bit.ly KuCoin bit.ly These are the three core sites I use personally depending on the coins I wish to purchase. Primarily I use Binance for the cheap fees and BNB discounts, I am also registered on Bittrex but only use this when necessary due to fees. Disclaimer: The information published is not intended to, nor should it be, construed as financial advice. The sole purpose of publication is for educational purposes and feedback. Any investment decisions, gains or losses, are your own and I hold no liability. Invest only what you are prepared to lose.
Long
by WhispersNZ
Savage flash crash on ZCash - Binance!? Wow!How do you fancy a 20% flash crash and rebut in about 10 seconds flat..... These things happen I’m afraid, especially with so many algos and bots on to- of a manipulated market, and that’s an important lesson from me to you. I never, ever trade on margin in these markets. There’s no need. Really. And, this is a tricky topic, but I don’t use stops. It’s just too easy to get stopped out in an unfavourable position and then once all the stop hunting is done, massive pump in favour of your original trade. Sound familiar?... Now what’s the betting that just scared the crap out of a load of people, took out every stop in sight and after this subsides - ZCash rebounds hard! That’s my bet anyway. Crazy times. Trade safe. The Colonel
by ColonelCrypto
ZEC Correcting a littleZEC retracing to set the momentum for the next leg up. I will certainly add back at .02905: 1) Forming a bit of a cup and handle which has the proper volume profile for it as volume is decreasing on this trip downwards forming the handle. 2) Retrace of last move up and the bottom of cup has a .5 retracement at .02905 3) The light blue line is a long term trend line that is acting as the Adam and Eve break line so a retest of that line and bounce up would be EXTREMELY bullish with a target of around .0334 but ultimately would signal a bullish trend. 4) The Kijun on many time frames is also in this exact .02905 region. 5) RSI will be able to reset its momentum and treat 50 as the support level for a wave up. Most alts look very similar to this right now after the last week and especially last 2 days. They are retracing and so the next 24 hours is massive for alt season. I would guess a lot also relies on ETH. Will ETH hold its own retracement to around .0645
by L3gOnD
4