Ermanometric bottom here...looks good. It is first time since i analyse XEMUSD, when ermanometric reversal day have worked so accurate. Ermanometry of course is not always so accurate (like resistances and supports levels - see also the previous potential reversal day market as 106 vertical line on my chart, now work like ermanometric pivot and was like resistance @around 12cents), but is worth to look at it for sure. Will be here another wave down or it was a final bottom? Honestly, that can only confirm market behaviour not my wishes. XEM 1.17% is worth to observe - if another wave down will occur it will be much cheaper to collect for longterm hold. 10-12 cents of course looks also cheap, but is around 1bln$ capitalization. We have not uptrend in crypto, there is sometimes FUD produced by Morgans or Goldmans or other branches of banksters, so with that in mind 10-12cents is not yet so attractive. And i expect new bottom @BTCUSD this year, so the upspike @XEMUSD if will occur, should be shortlived - depends on market makers of course (pumpers&dumpers teams).
XEMUSD trade ideas
Near pricing a High. Short on Resistance.The pattern transformation from the 1W Channel Down (MACD = -0.080, Highs/Lows = -0.0417, B/BP = -0.1109) to the 1D Falling Wedge (RSI = 43.716, MACD = -0.010) was successful on XEMUSD and the price is now rising towards a 0.12059545 High. Short TP remains 0.060.
About to undergo a pattern change. Still short.XEMUSD is extending its losses on a long term bearish 1W Channel Down (RSI = 36.144, oversold on STOCHRSI, Williams, Ultimate Oscillator). However it may undergo a formation change to a 1D Falling Wedge (blue lines) if 0.1069 is crossed now. Still it is limited to a 0.12060 maximum, so we remain short with TP = 0.060.
10 cents or lower?10 cents looks as good support here (combined with 6000@BTC), however market always can do flash crash much below that point, risk is high. I got now some new XEMs stack from that level (around 10,6cents) but i must have also plan what to do if market will go lower. But even if it goes lower (and i will buy more XEM in 2-4cents area) there should be bump to that 10cents sooner or later.
Not a trading advice however, please do Your own research, before You tank XEM or any other alt in this beartrend!
Bigger picture on daily basis:
Target hit. Channel Down continuation. Short.TP = 0.12059 hit as XEMUSD broke the Falling Wedge to the downside and appears to be extending eventually the commanding trend of the 1D Channel Down (RSI = 26.153, ADX = 74.761). XEMUSD is near 12 month lows hence the low pace (MACD = -0.016, Highs/Lows = -0.0192, B/BP = -0.0408), indicating that a bottom (short/ medium term) may be near. If 0.08810603 breaks we will resume shorting (TP = 0.060).
NEM (XEM/USD) declined, but looks very promisingNEM has lost almost eight percent in the past 24 hours. The currency pair followed its rivals on Tuesday and declined significantly. However, I’m far from thinking that this downtrend will develop as there is no fundamental reason for this.
NEM reached the support area at $0.1561 on Tuesday and stopped there. I think it is time for an upside correction at least. The currency pair is close to its monthly lows and has almost no room for further decline. Moreover I believe that this downside momentum is temporary.
My current target is at the resistance area at $0.1883. I think the currency pair is likely to reach it in the couple of days.
Checkthe full crypto analysis HERE>>> .
NEM (XEM/USD) the rocket is still on the groundNEM follow its allies as there is no clear direction currently. The currency pair remained in flat during the weekend and fluctuates in a very narrow range in the moment of writing.
As for the current situation, I believe NEM is likely to start the uptrend again. The currency pair is close to the support area at $0.1729 and t5his support is strong. Buyers, I think will resume their attack from there.
My target is at $0.2082 resistance area. However, XEM/USD will have to break through the resistance area at $0.1883 before going there.
Check the full crypto analysis HERE>>> .
XEMUSD 8% potential in 12 hours| bounce on symmetrical triangleXEMUSD seems to have found an ascending support line within the symmetrical triangle that it keeps bouncing on. XEMBTC seem to be holding very well today opposed to most alts out there.
A tight stop loss bellow the blue line is suggested.
DYOR
NEM (XEM/USD) resumes the uptrend as there are almost no obstaclNEM looks very promising on Thursday. The currency pair had a downside correction on Wednesday and seems to resume the uptrend currently. Bears have almost no chances as they lost control over the market.
NEM Has almost reached the resistance area at $0.1883. The uptrend seems to be resumed and my targets are still the same. I believe XEM/USD is likely to reach $0.2082 in the nearest future. There are no candlestick patterns currently, but I see HL which means the currency pair goes upwards.
Check the full crypto analysis HERE>>> .
NEM (XEM/USD) so far so goodNEM has added almost five percent in the past 24 hours, but the currency pair is still far from reaching my targets. The downside correction is done and XEM/USD is likely to resume its uptrend in the next couple of days.
XEM/USD is trading above the support area at $0.1729. The currency pair aims at the closest resistance area at $0.1883. I think this is the closest target for Wednesday. However, as you can see, my rocket is well above this level. I believe NEM is likely to go there in the nearest future.
The correction towards the support are at $0.1729 is also possible, but if it happens, it won’t be the trend breaker. Moreover, I think that this correction has only 10-20 percent of probability.
Cehck the full crypto analysis HERE>>> .
XEM/USD U-Turn Is On The WayI have set my bullish targets lower as NEM develops a deeper correction frustrating my expectations. Anyway, I think that we will see some interesting events in the next couple of days. So stay tuned and follow the chart situation.
XEM/USD has reached my targets in the beginning of this week, but reversed later and started a correction. Anyway, my main trading idea is the same. I still believe that the currency pair is likely to resume its uptrend. However, I expect the price to touch the support area at $0.1729.
As for my bullish targets, I think NEM is likely to reach the resistance level at $0.2082.
Check the full crypto analysis HERE>>> .
There is a possibility for the beginning of uptrend in XEMUSDTechnical analysis:
. NEM/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
. The price downtrend in the daily chart is broken, so the probability of the beginning of uptrend is increased.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support zone (0.1860 to 0.1380). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1860)
Ending of entry zone (0.1380)
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 the special version of our "Price Action" strategy FOLLOW our lessons:
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TP1= @ 0.2765
TP2= @ 0.3686
TP3= @ 0.4390
TP4= @ 0.5305
TP5= @ 0.6540
TP6= @ 0.7730
TP7= @ 0.9680
TP8= @ 1.1647
TP9= @ 1.1429
TP10= @ 1.7987
TP11= Free