XEMBTC Falling WedgeWhat I See
NEM is almost done with the correction back to level 1. Risk minimized.
Falling wedge is running out of space
Has been down-trending for 4-6 months, a breakout is near
Last swing high is very far, at 7000 sats.
NEM can move to next fib levels (color lines)
What to Do
Set buy alerts in zones where falling wedge could breakout. Use an app or Tradingview alerts.
Set buys between wedge breakout point and .236 fib level, depending on your risk appetite.
Watch for price reaction around resistance levels (orange)
Set a stop loss at the lowest resistance level or 1 fib level. I am not setting stop loss as I am long on this coin, although I do recommend you do.
Xemusd
Situation update and chart redrawing.It's simplified drawing made by me in comparison to the last one chart @XEMUSD
Under 24-28.5cents area XEM is poised to sideways moves with tendency to slow sliding down (in case of BTCUSD pushing higher), or growing dumps and more blood in chart (after the topping @BTCUSD and dumping behaviour, as it was). It is now visible that XEM and overall altcoins did not participate in Bitcoins bullrun, like it was in Spring or in August. So after topping there and greater correction this can turn out badly for altcoins and XEM is not immune in that matter of course. It's really sad that i have no technical positives for "hodlers" of XEM, but maybe 2018 year and further developing of NEMs ecosystem and platform can change something in price moves. Looking historically @XEMs price moves, the autumn was the best time to accumulate XEMs cheap, and then sell it in the next year. That worked for me 2 times in a row, i'am curious if it can works one more time.
XEM Going to be hot againI've posted all the important dates on the chart and highlighted each day with a red vertical line. XEM is poised to move on speculation following these dates. So be sure to buy the rumor and sell the news.
XEM is also in a technically good spot for ripe buying opportunities.
RSI and Stochastic just bottomed out on the Daily
Price is near a strong ascending Trendline
On the 4Hour i will be looking for a pullback and possibly a last leg to test the bottom again and bounce off the blue area I have outlined. That would be the ideal place to buy,
My old strategy to be checked in XEMIt's my old strategy, from stocks markets. I'am curious if entry like this will pay good here. I changed my view on cryptomarket overnight. Rebuyed my 30000XEMs (25% of all od my XEMs) and try to close this position in TP3 place (48cents). But when someone wants manage more logical entry like this must divide profits in 3 stages (3 blue lines in my chart, 32cents, 40cents, 48cents). Basically that are levels based on Fibonnacci and Elliot's waves counting (wave 5th - if she will be constructed by market, could be 50%, 100% and 150% of previous wave 3rd - can be even more but i use only this three extensions). SL must be under pink line when 1H candle closes significantly under this line. I personaly dont use SL here as i rebuyed my XEMs from my old stack, so i lose nothing if it go lower. But for speculative entry SL must be used. And how to manage this position with profit taking? 50% quantity of position must be closed @ 32cents, and SL goes for the rest of position to the entry point (around 26cents). Than if market goes higher 25%-30% of position is closed @ 40cents, and the rest @ 48cents.
Elliot waves for XEM fiat pairs.My latest counting for XEMUSD and XEMJPY, must be corrected, according to principles of Elliots Waves Theory. I know that many say, that it not works in crypto or forex or even elswere. For me this theory works, but is very hard to implement in daily trading, and deliver too many possibilities of counting, that often lead to losses on market. But i try to publish my works here, and will be very glad if someone with experience in Elliots Theory help me to determine if my counting is correct.
XEM on the moveI am super bullish on ALTS right now. I think btc is gonna take a little dip and pump these things. I am finding my favorite pattern ascending triangles all over the place. Here is one showing the anticipation of the bounce on support creating a ascending triangle. Buy now in anticipation with a tight stop loss or wait for the break out of the resistance.
XEM Worth a review XEM
Establishing new area for support (highlighted)
Broke out from a previous strong trend line (highlighted)
Volumes are building up
possible scenarios
1. comes back down to test same support
2. continue it's way up to test the round numbers (more likely)
trade to your taste
Good luck everyone
BUY/HOLD Recommendation for New Economy Coin XEMThe New Economy Coin has a long history relative to other altcoins and has recently shown exponential gains in price. It is my recommendation to buy or hold this interesting alt. The coin features are unique such as NEM's multisig solution (details can be found on the coin's website at www.nem.io ). Encrypted messaging is also an interesting feature. Of course this can be done with a multitude of platforms, XEM has the regular features with some 'Easter Eggs' to boot.
Japan has recently legislated BTC is able to be accepted at retail outlets throughout the country, and it is logical to think other alts will follow.
XEM is also the 4th most popular alt at this time in Japan, arguably a leader in the cryptocurrency space.
XEM has a unusually high circulation with a total supply of 8,999,999,999 XEM non-mineable coins . The total circulation is the same, accounting for the relatively low price to BTC ratio. The penultimate supply of coins will stay at 8,999,999,999.
It is my recommendation to hold or buy XEM for a targeted gain of .00021000 BTC.
This recommendation should not be considered investment advice, and is targeted to experienced and interested parties. You are responsible for your own decisions. Please consult a financial professional before investing. Any investment carries a degree of risk, and while the cryptocurrency market is becoming more widely accepted there are many risks involved.