SOLID LONG TERM HOLD WITH 280% POTENTIAL
As traders, we try to catch the bottom based on finite data seen in the charts and use extrapolation methods to time specific entries and exits. We also manage our risk by looking for high probability setups that offer high rewards and low risk. We are hunters of coins and spend a majority of our time planning these setups.
What I see with ZCASH is 0.618 fib level hit for this wave 3 impulse up, supported by a former resistance that now acts as a support. I 
I also see extreme oversold RSI on the 4 hour chart with possibility of the MACD leveling off soon.
First setup involves entering between $375-$400 provided support holds and targeting the 0.5 fib of wave A's retracement. Stop loss set tight at $350.
We also see Wave 3 hitting 1.618 extension, therefore it's safe to assume a near 2.618 extension for wave 5.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
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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.
My views on the ZEC BTC pair
https://steemit.com/bitcoin/@macmanux/zec-btc-zcash
Hi Philakone, thank you for sharing your TA with us. Could you look into NEBL? I think it looks bullish mid-term and would like to see your analysis of it.
Coins mentioned in post:
Great post. Thanks for the analysis. Keep firing !
Hi! I am a robot. I just upvoted you! Readers might be interested in similar content by the same author:
https://steemit.com/bitcoin/@philakonecrypto/tutorial-part-7-live-trading-usd120-profit-in-6-minutes-long-on-bounces
Thanks for this analysis.
I can't help notice that your Elliot Wave does not look right, the bottom of 4 is overlapping the top of wave 1.
Is this intentional? In your experience should the wicks be ignored?