A long-term trading opportunity to buy for NEMUSD !Technical analysis:
.NEM/DOLLAR is in a Range Bound and Beginning of up trend is expected.
.The price is below the 21-Day WEMA which acts as a dynamic resistance.
.The RSI is at 41.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (0.298 to 0.195). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
.Beginning of entry zone (0.298)
.Ending of entry zone (0.195)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.439
TP2= @ 0.655
TP3= @ 0.850
TP4= @ 1.169
TP5= @ 2.147
TP6= Free
Xemusd
Another one dump.Seems to be endless, but testing of longterm trendline @logarithmic chart should give here some support, if not 10cents is imminent (or around it). Last buy signal from RSI gave some bounce but move from 20cents to 40+cents is a small correction in this downtrend. XEM reacts of course more nervous than BTC to dumps in the wide scene of cryptomarkets.
My view however is unchanged. NEM will surge from his dips. Maybe even in this year if not in the next. Cup&Handle formation can be formed much longer, as it was in case of BTC.
NEM Downside CorrectionNEM has reached the high at $0.46 and then formed a strong resistance at the 76.4% Fibonacci retracement level, which is $0.44. The resistance has been rejected for tree consecutive times suggesting the corrective move down.
XEM/USD first downside target is seen at $0.34, where resistance was formed back on the 20th of March. Second support is based at 23.6% Fibs, that is $0.27 and this is the area where the 200 Moving Average was broken. It is important to watch these resistance levels for either a rejection of a breakout, but only break and close below the $0.27 could be a confirmation of a downtrend continuation.
On the upside, clearly the resistance at $0.44 in general and $0.46 level in particular must be broken, with the daily close above it. In that case the uptrend is likely to continue and could result in exponential growth.
XEM/USD turned to the downside againThe crypto has found a very strong resistance at the median line (ML) and now goes down again. The false breakouts followed by the failures to retest the ML have signaled an exhaustion and a potential drop. XEM/USD slipped below the lower median line (LML) of the ascending pitchfork. A retest followed by an important drop below the 0.35471335 support will give us a great chance to sell this on the short term
Will NEM (XEM) Maintain Its Undercover Status?NEM (XEM) is known as a dark horse in the crypto community and for good reason. Despite its position as the 14th largest coin by market cap (which used to be a lot higher), very few investors actually know and understand what this cryptocurrency is all about. The coin owes its rankings to an ever increasing interest from Japan. According to Coinmarketcap.com, XEM/JPY pair accounts for more than 40% of its trade volume. Next in line is XEM/BTC at 15% and XEM/KRW at 12.5%. This means that a combined total of more than 67% trade volume is from Asia.
Read Detailed Anaysis Here: cryptodaily.co.uk
The scalping of triangles...should look like this - when entry point is signal from 1h laguerre higher than 60 (for long position) with 0.3 parameter, combined with positive signal from Alligator lines (my set is 24,12,4). Blue rectangles are areas where occur good circumstances for long positions - grey rectangles in contrary say: stay aside from taking position. Targets for entries should be estimated after finding price formation on chart (triangles are best, but there is few others of course).
The same strategy i use for scalping forex pairs like EURUSD, GBPJPY, AUDNZD and CADCHF - so far so good, only one problem is that health and nerve system can be crushed when You trade like this constantly - that's the price. In forex however any longterm strategy is (form me) imposible to use and earn - in contrary to Crypto market.
In case when market not fulfil formations 100% maybe good idea is to cut expectations by 10% - if you have target 6 cents (like it was in XEMUSD last case), cut it to 5.4cents. As i observe markets long time i see that "cutting target by 10% of the whole expected move" gives more profitable positions - especially before strong pullbacks after some trend.
NEM turned and confidently grows. Buy.Nem exited the drift, which we wrote about in the last review and started a confident growth.
The drawn reversal pattern on the daily chart, the buy signal from MAcross and the slow moving average moving upwards - all factors speak of the change of the medium-term trend to growth.
From the minimums, the rate has grown by 100%. However, even technically, within the framework of correction, it can grow by + 100%. If it is a new big wave of growth, or at least an attempt, the goals are much higher.
It is not very clear where to put stops on long positions to protect against false triggering and, at the same time, limit losses in case of an unsuccessful entry.
Short-term stop now appears under $ 0.30. Medium-term and long-term only under $ 0.2.
Profitable deals and follow our reviews!
XEMUSD XEMBTC Fake out? Interesting Log scaleXEMUSD appears to be making a bull run however after reviewing the long term view and log scale, we may see a different picture? There is a massive channel which still has some distance to go to reach the other side. Another WXY correction as per analysis can be viewed, check chart for explanation however we may see XEM going through a dump sooner or later and moving back towards that down channel.
XEM-USD-Point 0.22860 - See how we make profitsSee how we make profits
by B10coin calculator
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Point 0.22860
#XEM #XEMUSD
This strategy is like a fishing net to enter the area of lines
Whenever a buying point is achieved , the selling point shall be the same line
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This analysis is only to subscribers in B10coin, Who use the B10coin calculator
This analysis is just to see how we buy and sell
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- Choose an appropriate buy point
- do not buy more than quantity allowed in B10coin Calculator to protect your balance to buy in points 7,8,9,10
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Date: 4/5/2018