NEXA long setup hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Nexausdtperp
Nexa Is Good for Continuation
On November 25th, Nexa made an ATH at 0.00002.
Following its ATH, Nexa began a correction to the 0.5 Fib at 0.0000177. For the last eight days, this level has been holding solid.
Nexa is Consolidating between the 0.5 and the 0.382 Fib levels. A daily close above the 0.382 Fib will likely reignite the bullish momentum.
The 21D EMA is resistance, and I would wait for a break and retest before entering a long trade—or, possibly, a break and retest above the 0.382 Fib.
My initial target is the 0.00002 level. However, Nexa could create a Cup and handle pattern, possibly sending it to 0.000028291. A 138% upside from its current price.
Trade Idea 1:
Entry: 0.0000124022 (21 D EMA).
SL: 0.0000105246 (Lowest Wick below the 0.5 Fib).
Target: 0.00002
R: R: 1:3.87
Trade Idea 2:
Entry: 0.0000137190 (0.382 fib).
SL: 0.0000117789 (0.5 fib).
Target: 0.00002
R: R: 1: 3.23
Leave some on the table for the higher target.
NFA.
What do you think? Please share in the comments
Best Wishes.
