We bought ZCL looking to FA and a flat top breakout, this breakout do not happened but fews days after ZCl started a big run touching our first target and almost second target.
If u still holding ZCL I recommend put stop loss under MA 100 its the same price we bought it
what can happen now?
1- if we bounce from 0.5 fib level again probably ZCL will test downtrend line (red) if this happen its a good time to sell with 20% profit, if breakup downtrend line our next stop level will be T2 (45% profit)
2- this can be a flat bottom formation and breakdown 0.5 fib level going back to 0.618 if this happen our stop will hit without profit or loss
Trade closed without profit or loss, we put stop loss under MA100 (same price we bought) after snapshot ZCL just dropped 70% AMAZING DUMP! but we protected with our stop!