This is an interesting one , XEM is oversold on daily level , finds itself on a strong old support , if it breaks it might go to FIB level support. But if it goes thru resistance XEM is very Bull. Very interesting to see what happens , i'm bullish on XEM because it has a lot of good news to come and it's already oversold and on support , so let's see what happens
XEM is about to break support to the downside -> Opportunity for a short with the target of the next HVN.
Entry: 0.00004641
Target: 0.00003642
Stop: 0.00005144
Risk/Reward: 2.04
The look looks like it is moving towards a convergence, indicating that it may be reversing in the near future, with the expected break in the range of 0.00005300-0.000005500.
Expected profit:
- target 1: 0.00007200
- target 2: 0.00008800
Waiting for XEM to breakout of flag, entering the market now while its quite beacuse we have confrences on 03-16-17-22 of October, very good possibility of good news coming when you attend 4 confrences in one month in multiple countries.
$XEM is already showing very bullish signs; conferences one after another will serve as catalyst to shoot $XEM to the moon. Sell stops indicated at various fib levels. $XEM needs to break the 0.382 fib level to shoot up - just need a conference as a catalyst.
Just one leg down to go. NEM will finish the correction within a couple of days.
For buyers; wait for confirmation after break through of the descending resistance line.
