Hi dear patrons, hope you are well and welcome to the new update on Ox (ZRX) token.
On the 4-day chart, the price action of the ZRX has completed the bullish Butterfly pattern. There is also 100 simple moving average support in the buying zone and the 200 SMA below this zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Butterfly pattern should be:
Buy between: $0.95 to $0.5555
Sell between: $1.26 to $2.00
Stop loss:
The maximum extent of potential reversal zone to $0.5555 can be used as stop loss or to minimize the risk factor the 100 SMA can be used for this purpose.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 260%, and the high loss possibility upto 42% but I would suggest to use 100 SMA as stop loss to minimize the loss.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the 4-day chart, the price action of the ZRX has completed the bullish Butterfly pattern. There is also 100 simple moving average support in the buying zone and the 200 SMA below this zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Butterfly pattern should be:
Buy between: $0.95 to $0.5555
Sell between: $1.26 to $2.00
Stop loss:
The maximum extent of potential reversal zone to $0.5555 can be used as stop loss or to minimize the risk factor the 100 SMA can be used for this purpose.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 260%, and the high loss possibility upto 42% but I would suggest to use 100 SMA as stop loss to minimize the loss.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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