Hello again!
NXT is turning into the king of December with setup after setup giving us great entry and reentry points.
We're currently in another Bull Flag/Bull Pennant.
A break above the top would signal an entry point - A word of caution on this one though. We're right below the longterm trend line, so I could enter at .695 only to see us bounce off the longterm trendline at .72; however the overall trend and fundamentals are so bullish on this coin that I'm not overly concerned.
If we make it through the trendline:
Target 1: previous All time high (I'll be taking 25% off the table here)
Target 2: The length of the flagpole added to the top of the flag (note: the pattern suggest a gain of 80-110% of the flagpole, so I'll be keeping an eye on this range for reversal or consolidation, either of which will se me taking another 25% off the table).
Target 3 is the extension of the Fib, it's also right below the $1 mark which should be a significant psychological hurdle.
Overall, note: I pretty confident at this point that this coin will go over $2 this month, with a reach goal of $5. All of these entries and exits are meant to increase my pile of NXT, while protecting my trading bankroll.
See my previous ideas on NXT for an explanation of the Ignis air drop on the 28th or to see how my other trades have worked out.
NXT is turning into the king of December with setup after setup giving us great entry and reentry points.
We're currently in another Bull Flag/Bull Pennant.
A break above the top would signal an entry point - A word of caution on this one though. We're right below the longterm trend line, so I could enter at .695 only to see us bounce off the longterm trendline at .72; however the overall trend and fundamentals are so bullish on this coin that I'm not overly concerned.
If we make it through the trendline:
Target 1: previous All time high (I'll be taking 25% off the table here)
Target 2: The length of the flagpole added to the top of the flag (note: the pattern suggest a gain of 80-110% of the flagpole, so I'll be keeping an eye on this range for reversal or consolidation, either of which will se me taking another 25% off the table).
Target 3 is the extension of the Fib, it's also right below the $1 mark which should be a significant psychological hurdle.
Overall, note: I pretty confident at this point that this coin will go over $2 this month, with a reach goal of $5. All of these entries and exits are meant to increase my pile of NXT, while protecting my trading bankroll.
See my previous ideas on NXT for an explanation of the Ignis air drop on the 28th or to see how my other trades have worked out.
Comment:
There it is.
There it is.
Here is the ascending triangle (bullish), which suggests a trend reversal. wait for a clear break above the top edge if you would like to reneter after being stopped out.