source avatarTrader Steve

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$ZEC printed a new all-time high and then kept going. That is usually when the worst entries get filled. I'm long, but not here. My zone is 1,094-1,122, well below the 1,171 tape. The move is the problem, not the direction. Context: 1,022 to 1,200 in half a day, more than 17%, a record high. Price has since settled near 1,171. Why that zone and not the current print: - it sits inside the empty range the rally skipped on the way up - it covers the 50-80% giveback of the advance - the prior high flips from resistance into support right there Three separate reasons landing on one band is what makes a resting limit worth leaving. One reason is not. Entry 1,094-1,122, as a limit zone rather than a market fill. Target 1,245. Stop 1,042. The stop is not a percentage. 1,042 sits under the prior high that produced this breakout. Close below it and the breakout failed, and there is nothing left to be long about. Risks: chasing at 1,171 roughly doubles the distance to that stop. And this leg came from a ZEC-specific bid rather than a broad crypto move, so the giveback can be deeper and faster than usual. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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