Long

NEM dead or not?

Updated

I booked nice profit at the previous bull run. But after I made mistake and caught SL.
Now I back to NEM, what can I say, nothing. But chart said me BUY!
Here bullish divergance RSI and MACD on 4H chart
NEM broke out 50MA, 20EMA crossed 50MA
Next resistance lvl 200MA ~3475satishi
Stop Loss I maitain under 50MA around 3150 satoshi lvl.
It risky option I use just 7% of my capital.
Here 4H MA chart:

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Have a nice day and good profit!
Feel free to comment. It important for me!

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NEM is trading in channel (BLUE lines). There are significant support line (RED line). NEM are close to support line, in my opinion better choise stand aside or find better option. More chance that NEM grow up (significant support).
Tight your SL under BLUE support line and RED line depend on term of trading.
I'll stay inside. I'll charge my mind if NEM brake down and sustain under RED line.
4H chart:

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PINK line doubtful flag

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Finnally, some move xD. NEM try sustain about 50MA, target RED line (~5900 satoshi) if NEM fail main support (actually red too:)). Looks like we will see bullish scenario, got good news from developers+at full market looks more bullish+realise of Catapul
Unexpected news: medium.com/pundix/first-nem-based-point-of-sale-terminal-reveals-5c6a31f66a2

1D chart:

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It was nice run and time to calm down and reload.
1H chart:

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Get ready next week must be hot. We have powerful overhead resistance around 4700-4800 satoshi as 200MA(1D chart) and 26EMA (1W chart)
1W chart:

1D chart:

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I found bearish divergance on 4H:

If 1D MACD sustain below previous day, possible retrace. You can booked part of profit:

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NEM moved inside channel (green) or rectangle pattent past week:

Looks like it ready to action! MACD is bullish. In my opinion chart generally looks bullish BUT we have strong overhead resistance on 1W chart 26EMA (BLUE) and strong support 13EMA (PURPLE).
1W chart

I change my mind if price goes down 30EMA and maintain SL under it.
1D chart

PS: Dont miss Catapult release:
coinmarketcal.com/?form[date_range]=02/05/2018+-+01/09/2021&form[coin][]=NEM+(XEM)&form[sort_by]=&form[submit]=

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I'm sorry here 1W chart:

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Double top patten's target almost reached, so take a look on XEM, dont lose opportunity. Here 1D chart:

I buy each time as XEM going down. Catapult will send XEM to the moon, in my opinion.
Safety buy option after sustain about 50MA, SL under RED trendline

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Here 1W chart:

as you can see there're several support zone 13, 26, 52 EMA.
Yes, it safety buy after sustain about or now up to you wish.

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Support lines on 1W chart:

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I found news about partnership NEM with PolicyNetwork (insurence company), but I cannt find it on english.
High activity of project on Consensus conferance. Check twitter:
twitter.com/nemofficial

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Most important:
twitter.com/NEMofficial/status/995995532148592640

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Partnership with PolicyNetwork:
twitter.com/PolicyPalNET/status/995870221184331776

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Team and Developers make good job but this fact is not influence on price. I'll find answer (Delay release Catapult?)
One more symmetrical triangle on 4H chart:

Break out target = 3391 satoshi (min)
Break down target = 3064 satoshi (min)

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Otherwise, ascending triangle on 1D chart:

Breakout target = 3401 satoshi (min)

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The chart marks the points of listing on huge exchanges (Binance, Bithumb). Sh*tcoins explode after listing but not NEM. NEM is not shtcoins and most undervalue token at present time.

Here is symmetrical triangle
1D chart:

Trade closed: stop reached

Trade active

NEM was preparing all these days.
1D chart:

MACD gistogram Bullish divergance, MACD line are crossed.
EMA (10) was broken out.
Zoom the chart
1D:

It rared TA signal that Bullish divergence on gistogramm.
Zoom one more time
1W chart:

These all good reversal signal, but you always should protect your money
Stop loss: 2145 satoshi
TP1: 3950 satoshi
TP2: 5900 satoshi

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NEM decline inside my stop loss zone. I will wait untill close candle.

Trade active

My stop loss was actived. Good lesson for me.
I will reopen position
1D chart:

RSI double bottom + breakout trend line
Tight stop loss near minimum

gGYSRin

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