Long
XEMUSDT (NEM) - POTENTIAL BUY ENTRY
ANALYSIS 🔎
- XEMUSDT hit an ATH and retraced.
- Price is retesting the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the retest zone.
- The retracement was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- The market is consolidating in a rectangular pattern.
- This rectangular consolidation is known as the accumulation phase (wyckoff method).
- The accumulation phase is a bullish build up pattern (pre uptrend).
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the accumulation phase resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below accumulation phase support (S1).
- XEMUSDT hit an ATH and retraced.
- Price is retesting the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the retest zone.
- The retracement was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- The market is consolidating in a rectangular pattern.
- This rectangular consolidation is known as the accumulation phase (wyckoff method).
- The accumulation phase is a bullish build up pattern (pre uptrend).
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the accumulation phase resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below accumulation phase support (S1).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.