XM breakdown and possible Pop?from origin to now, just looking thru the path its taken
-not calling for true reversal here, bottom may take more time
-scalp of ~15% potentially on the table
Lower right hand corner outlines 2 similar consolidation patterns, where previous resulted in a upside move before further breakdown
posting chart as a way to further track price movements
Xm
AUDUSD 1D TIMEFRAME ANALYSIS POINT UP TO PREVIOUS HIGHLooking forward to seeing AUDUSD going long to previous high as it has bounced on a strong support and point up so investors should look for buying opportunities as the chances of it going Long are high
Long XMPotential bottom on XM, ABC looks complete with C having 5 subwaves.
Broke long term trend resistance, buy and hold
Always let the IPO BUBBLE BURST..!Potential gain:25-27%
Reward/Risk:3
Timeframe:2-4 wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
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💡Don't miss the great buy opportunity in XEMUSDTTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.2587000).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XEMUSDT is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
Take Profits:
TP1= @ 0.2889000
TP2= @ 0.3140000
TP3= @ 0.3414000
TP4= @ 0.3788000
TP5= @ 0.4563000
SL= Break below S2
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