NEM / BitcoinLong
$XEM BTC - the good ole 1-2 punch 57% gain 1:5 risk/reward
Updated
Good day traders
This is an update to my previous idea on XEM. Please see that idea in the related ideas section below.
I typically don’t like complex charting because with complexity, we have more noise. However, with XEM’s pricing action being so complex, we enlist the help of our friend the Gann Fan
Here you can see multiple points of confluence validating the possibility of higher price action. We have an ABC correction and immediately after that, an impulsive wave with a sharp correction back to .618. Notably this sharp correction led us back to our RSI support, which was once resistance. We can expect the RSI to only go up from here.
Ladies and gentlemen, I think we may have our first 1-2 punch here
Entry: 3913
Stop: below 3521
Target 6200, take profit from 5500 and up
Risk / reward ratio: 1:5
If we find ourselves below 3521, we’ll likely revisit the lower Gain region of around 3200 so make sure your stops are in place.
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
This is an update to my previous idea on XEM. Please see that idea in the related ideas section below.
I typically don’t like complex charting because with complexity, we have more noise. However, with XEM’s pricing action being so complex, we enlist the help of our friend the Gann Fan
Here you can see multiple points of confluence validating the possibility of higher price action. We have an ABC correction and immediately after that, an impulsive wave with a sharp correction back to .618. Notably this sharp correction led us back to our RSI support, which was once resistance. We can expect the RSI to only go up from here.
Ladies and gentlemen, I think we may have our first 1-2 punch here
Entry: 3913
Stop: below 3521
Target 6200, take profit from 5500 and up
Risk / reward ratio: 1:5
If we find ourselves below 3521, we’ll likely revisit the lower Gain region of around 3200 so make sure your stops are in place.
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Note
Sometimes you just fall in love with a chart and its harmonics
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