There is a possibility for the beginning of an uptrend in XEMUSDTechnical analysis:
. NEM/DOLLAR 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 43.
. 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 (0.1053 to 0.0634). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1053)
Ending of entry zone (0.0634)
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= @ 0.1431
TP2= @ 0.1681
TP3= @ 0.1982
TP4= @ 0.2765
TP5= @ 0.3686
TP6= @ 0.4390
TP7= @ 0.4958
TP8= @ 0.6540
TP9= @ 0.7450
TP10= 0.9466
TP11= 1.1487
TP12= 1.4356
TP13= 1.8013
TP14= Free
