XEM completing final leg of bullish Butterfly for upto 15% move
Updated
On one hour chart, the price action of NEM (XEM) is completing the final leg of bullish Butterfly pattern, soon it will be entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern should be:
Potential reversal or buying zone: $0.2245 to $0.2154
Fibonacci projection or sell zone: $0.2315 to $0.2485
Stop Loss:
The potential reversal zone area that is up to $0.2154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 15% and as per the above-mentioned stop loss, the loss possibility is 4.10%.
Note: Above idea is for educational purpose only.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern should be:
Potential reversal or buying zone: $0.2245 to $0.2154
Fibonacci projection or sell zone: $0.2315 to $0.2485
Stop Loss:
The potential reversal zone area that is up to $0.2154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 15% and as per the above-mentioned stop loss, the loss possibility is 4.10%.
Note: Above idea is for educational purpose only.
Trade closed: target reached
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