I'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,
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,
Comment:
Never got the last leg due to the hype. There was a decent dip after the breakout for a nice entry, but price never came to me so I am not in. 3 news events down 3 more to go. If it had dropped to my buy area I am sure this would have attracted more buyers, but at current price I'm not particularily interested (this wasn't a long term hold for me). With the events coming to a close in October I'd be looking for profit taking near the highs.
Comment:
**And reentry around .15* area if the correction plays out nicely. Ill be watching my indicators for signs of a reversal if price moves in that direction. Right now it seems likely.
Comment:
Update. Arrows never moved, but don't take trades off them because it followed the last one. Do your own analysis. Judging from weakness of upside movement from recent events coupled with the huge daily bearish divergence i'd be careful entering longs until we get a clearer picture. I was wrong about XEM getting "hot" again, though it did "warm" up some with all the news, but not like I expected.