$ZRX - SHORT Setup
Entry: 0.1162 – 0.1170 (On rejection from this supply zone)
Target 1:0.1135
Target 2:0.1110
Stop Loss:0.1185 (Above the 24h high)
My View:
ZRX is exhibiting clear bearish momentum,trading near the lower end of its daily range after a sharp rejection from the 24h high. The price is currently retracing into a defined resistance area, which aligns with the recent breakdown level and a significant Ask wall shown in the order book. The order flow shows a dominant Ask volume of 84.82%, indicating substantial selling pressure overhead. Price action structure remains weak, with the current bounce lacking conviction, suggesting it is a corrective move within a larger downtrend. The strategy is to enter a short position on a confirmed rejection from the defined supply zone, targeting a retest of the 24h low and a potential breakdown to new swing lows.
Bias: Bearish below 0.1170. A break and sustained hold above 0.1185 would challenge the bearish outlook.
Disclaimer:My plan. Not advice. Trade your own risk.
