$ZEN It looks like you're interested in a trading setup for Horizen based on a long liquidation at $4.0609K at $36.917. Here's a simplified breakdown and trading strategy for you.
Liquidation Value: $4.0609K
Price Level: $36.917
This could suggest a strong move in the market as liquidation is often a signal of potential volatility. Traders might see this as an opportunity for potential profit.
Ideal Buy Zone.
Look for a buy zone between $33.00 and $34.50. This is where the price has shown some support in the past and could provide a good entry point. If the price drops further and shows signs of stabilization, consider entering near $32.00 to $33.00.
First Target.
$42.00 This is the immediate resistance level where price might face selling pressure.
Second Target. $46.50 If the price breaks above $42.00, this is a key resistance zone to watch.
Ultimate Target. $50.00 Long term target if the bullish momentum continues.
Tight Stop Loss. $30.50 to $32.00. If the price breaks below this zone, it could signal a reversal, and you might want to exit the trade to limit losses.
Next Steps.
1. Watch for Entry Signals.
Keep an eye on the market for a clear buying signal. If the price drops into the buy zone and starts showing bullish momentum like higher lows or positive candlestick patterns that could be a good time to enter.
2. Monitor Resistance Zones.
Be mindful of resistance levels at $42.00 and $46.50. If the price struggles to break through these levels, be ready to exit or adjust your strategy.
3. Risk Management.
Always stick to your stop loss levels. Don’t risk more than you’re comfortable with, and adjust your position size accordingly.
Key Takeaways.
Buy Zone.
$33.00 - $34.50 (or lower at $32.00)
Targets.
$42.00, $46.50, $50.00
Stop Loss.
$30.50 - $32.00
This analysis aims to provide a straightforward trading strategy for $ZEN. Keep an eye on market conditions and adjust as needed.
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