XEC Downtrend Update
After the ABC correction shown in my previous analysis, we have a motive wave to the downside.
I´m considering wave 1 to be an extended wave. Therefore, by EW parameters, we would have wave 3 shorter than 1, and wave 5 shorter than 3.
Blue resistance is an probable target for wave 4.
XECUSDT trade ideas
#XEC (SPOT) IN( .000030- .000036)-T (.000180) - SL (.00002963)BINANCE:XECUSDT
#XEC / USDT
Entry ( .000030- .000036)
SL 1D close below .00002963
T1 0.000051
T2 0.000069
T3 0.000100
T4 0.000140
T5 0.000180
______________________________________________________________
Golden Advices.
********************
* collect the coin slowly in the entry range.
* Please calculate your losses before the entry.
* Do not enter any trade you find it not suitable for you.
* No FOMO - No Rush , it is a long journey.
Useful Tags.
****************
My total posts
www.tradingview.com
1Million Journey
www.tradingview.com
www.tradingview.com
**********************************************************************************************
#Manta #OMNI #DYM #AI #IO #XAI #ACE #NFP #RAD #WLD #ORDI #BLUR #SUI #VOXEL #AEVO #VITE #APE #RDNT #FLUX #NMR #VANRY #TRB #HBAR #DGB #XEC #ERN #ALT #IO #ACA #HIVE #ASTR #ARDR #PIXEL #LTO #AERGO #SCRT #ATA #HOOK #FLOW #KSM #HFT #MINA #DATA #SC #JOE #RDNT #IQ #CFX #BICO #CTSI #KMD #FXS #DEGO #FORTH #AST #PORTAL #CYBER #RIF #ENJ #ZIL #APT #GALA #STEEM #ONE #LINK #NTRN #COTI #RENDER #ICX #IMX #ALICE #PYR #PORTAL #GRT #GMT #IDEX #NEAR #ICP #ETH #QTUM #VET #QNT #API3 #BURGER #MOVR #SKL #BAND #ETHFI #SAND #IOTX #T #GTC #PDA #GMX #REZ #DUSK #BNX #SPELL #POWR
XEC Waiting for Correction
Even though the overall bias is bullish, price in the daily chart is in overextended RSI conditions and beginning to show bearish divergence.
Next major resistance is the green zone around 0.00006.
Major support is the gray zone just above 0.00004.
I will be watching for pullbacks to enter long trades targeting the green resistance.