ZIPPAY Falling Wedge| Local S/R| Swing high| Price Action

27 dic 2020

Evening Traders,

Today’s analysis – ZIPPAY- trading towards its price action apex where a breakout is probable,

Points to consider,
- Price action apex
(Falling Wedge)
- .618 Fibonacci S/R Support
- Local S/R Resistance
(.50 Fibonacci Confluence)
- Declining Volume
- Oscillators Extended

ZIPPAY’s immediate price action is likely to have a break from its falling wedge pattern, typically a bullish formation once confirmed.

The .618 Fibonacci is channel support; a wick down here is probable allowing for a long based entry.

Local S/R is immediate resistance that is in confluence with the .50 Fibonacci, price action exceeding this level is likely to continue its overall trend.

The volume profile is currently declining with both oscillators; a reversion to their mean is probable with an influx in volume.

Overall, in my opinion, ZIPPAY is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work!

And remember,

“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,