A trading opportunity to buy in NXSUSDTechnical analysis:
. NEXUS/USDollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.682 to 0.549). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.682)
Ending of entry zone (0.549)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.19
TP2= @ 1.69
TP3= @ 2.59
TP4= @ 3.60
TP5= @ 5.43
TP6= @ 6.92
TP7= @ 8.40
TP8= @ 10.50
TP9= @ 13.19
TP10= Free
