XEM (NEM) - ready for strong push up

22 Nis

XEM finished corrective pattern, created double bottom structure with higher low a similar pattern that we have seen on Tara before it pumped up.
Expecting strong push up to target range where we have confluence of different resistances:
- major diagonal resistance line
- pivot above fibb 0.618 (that pivot was Target for Tara)
- fibb 0.786 level - that level was reached by XEM in last bull run (2021)

If super bullish than we can also wick Mar 2021 level (0.85$) but in any case once impulse is done we will get a significant correction to reveal future potential trade setups....so even if you exit trade too soon, nothing is lost, you secured profits and are waiting for next trade opportunity.

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İşlem aktif

Dipped lower so adjusting the outlook. Whole move since Jan 2018 seems like giant ABC correction bringing price back down to Wave 4 range (as per EW Theory). We are oversold, with local bull divergence and similar wave structure in A and C waves. Therefore plan remains - bounce up and test of fibb 0.786 range aka diagonal resistance line.