XEMUSD trade ideas
XEMUSD respecting the rising channel.XEMUSD respecting the rising channel. We may be stuck range bound however. First target $0.13, If it breaks through $0.20 and $0.40
Slight upper break-out quickly sold off. Still bearish.The Falling Wedge bands on XEMUSD have been slightly broken upwards on a 1D spike that reached 0.1166 but was quickly sold back to even lower that yesterday's levels. This level (0.1166) is also a 0.786 Fibonacci retrace, and probably the reason for the strong selling. There are two bearish possibilities created form this event: the more slow paced 1D Channel Down (faded channel, RSI, Williams, Highs/Lows neutral) or the more aggressive 4H Channel Down. Both still point to our TP = 0.060.
NEM Price on the Rise Due to Name Service PartnershipNEM (XEM) price has been on quite a rally the past day, gaining almost 10% in the past 24 hours. This is mostly due to the partnership with Portal Network regarding a name service that will be introduced to NEM.
Using Fib retracements we can see some key inflection points for XEM. When the price will touch these levels, more likely than not there will be some movement.
Those key points are:
Supports at: $0.101, $0.095, and $0.089
Resistance at: $0.107, $0.115, and $0.125
XEMUSD DOnt miss this long HI there,
This is a longer term trade setup. Where you can buy and can hold for longer term. There is huge potential for longer term.
How can i trade on this chart.
1. Watch bottom and look for buy everytime when price forms new lows.
OR
2. Wait for the price to take off and start to buy. (1st impulse )
Ideally you should wait for the second to happen.
Good Luck
Please support the setup with your likes, comments and by following on TradingView thanks
Falling Wedge intact. Slow descend towards 0.060.XEMUSD has made another Lower High on the 1W Falling Wedge (RSI = 36.374, MACD = -0.081, Highs/Lows = -0.0262, B/BP = -0.0796) staying bearish on the long term but neutral on the short term (1D RSI = 45.270, Williams = -53.449, CCI = -0.6358, Highs/Lows = 0.0000). This should create a consolidation phase within a 0.07855 - 0.1040 Rectangle until 0.7800 breaks. Our TP is intact at 0.060.
XEM Possible breakoutWatch for increasing volume on the OBV and the Volume indicators. Good volume is needed to realise the breakout.
Ouch XEM:/Okay it looks that another wave down is ready. So i sell my XEMs from 8.8 cent for 9.2cent an pending orders are staying at the levels mentioned by me in previous ideas for XEMUSD.
Shortterm waves.Looks like impulse (12345) correction (a=c) and now realisation of triangles and maybe little more;)
XEM freefall4 different trend lines meet at this one point.. Looks like its going to $1 by early October.
Channel Down intact. Steady decline to wards the target. Short.XEMUSD is on a very stable decline on the 4H Channel Down with 1D (RSI = 38.196) calling for a new Lower Low at 0.0716. 1W is still applying significant selling pressure (MACD = -0.080, Highs/Lows = -0.0359, B/BP = -0.1047) and we remain dedicated to our ultimate TP = 0.060.
a = c...= my entry again (@8.8cent). If we only can get in this case info similar to Ripple, skyrocketing could be intresting. Without that i hope for small bounce (20cents).
Not trading advice!
Waves counting.It lacks for now some bearish wave or two, if this counting is valid.
15mins closer look:
Blue line = invalidation of this counting line
Okay...I am on that boat again. 6 cents was not touched, but i buy what i have planned for this level @9cents (so smaller quantity of XEMs). In case of badboys return i will not have probably possibilty to close that trade without loss so it will go in this case to longterm hodl purse. In case of renewed bearish moves i will take another one portion probably @ 1-2 cents.
What is my target? Should be 20cents, but this contratrend entry has so much risk that i should wait for pump minimum to 40cents or higher.
I dont advice You of couse to emulate my move now. XEM is very risky crypto - for my taste only for the old guard that had theirs stakes and have sold much of it with huge profit. For newcommers XEM is not convenient instrument at all, especially, if they will look at the weekly chart.
Funny thing is that Bitcoin dont have the specified direction now. 6000 is near, 7300 is so far - no signs to get in. Maybe with SL under 6000? Okay it's only my loud thinking. Other cryptos from my observe list are building not convincing formations to get in, so i must stay by XEM - only this chart is readable for me (but counting of waves can be false of course as always).
But my longterm view of cryptomarket is still unchanged. Any spike up (few days or few weeks lenght) will be temporary... unless banksters system crash - that could be other type of story. For now there is no crash on stocks or no second "Lehmann Brothers" event.
Channel Down continuation within the 1W Falling Wedge. Bearish.As expected the consolidation around 0.1000 broke downwards and a new very aggressive 4H Channel Down (oversold RSI = 21.923, STOCHRSI = 0, Williams = -98.798, Ultimate Oscillator = 21.489) has emerged. This is still trading within the wider 1W Falling Wedge pattern (MACD = -0.080, Highs/Lows = -0.0498, B/BP = -0.1070). Our ultimate TP is still 0.060 but if 0.055 breaks, then the Falling Wedge is crossed to the downside and a very aggressive bearish sequence will commence for XEMUSD. Updates will follow to cover this scenario.
Signals for more pain in crypto... Just look at $NEM - $XEMUSD Make no mistake, this is a tremendously bearish pattern on NEM.
Lower High made. Resistance intact. Short.XEMUSD made the expected Lower High on the 1W Falling Wedge (RSI = 36.593, MACD = -0.079, Highs/Lows = -0.0414, B/BP = -0.0862), though a little higher than our projected 0.12059545 figure. However it provided an even more comfortable short entry for our ultimate TP = 0.060. The goal for 1D is to sustain the current bearish momentum (STOCHRSI = 28.472, Williams = -78.631) and stay below 0.1149.
Situation and my stance update (BTC, XEM and whole cryptosphere)I have sold all XEMs taken @ 10 cents (very limited loss from my side in this case only few percent). Situation of wide cryptomarket is strange form me. All is cheap, but it looks like could be cheaper. So i choose one more time to stay aside, and even if i buy some crypto, that will be probably very shortterm entry to catch some shortlasting bump. 6000$ BTCUSD is crucial for now. You know probably what dump it will cause in case of whole cryptomarket. With Succesful attack @7300 (daily basis) i may change my stance - to little more optimistic. From my point of view however this autumn should give here only limited oportunities to profitable entries (and shortlasting in nature). I am afraid that bubble like in 2017 will be possible in 2021 (Combined with last euphoria in case of world stock markets - they will end with spectacular crash of all assets, together with fiat money/dollar and even overpumped cryptocoins in this last bubble). But that point of view is not taken from technical analysis or researched by me ermanometry, so do not use it of course in Your investing activities.
In case of XEMUSD my pending orders are now situated @ 6, 4, 3, 2 and 1.5 cents (with growing structure of percentage given for one level in fiat money throwed in)
For Bitcoin i have no pending orders now.
This is not trading advice!
Ermanometric and EWT situation update.I cannot paste images in my last idea, so new idea with situation update. That 5th wave if will occur should not last long, minimum for this is around 7 cents (38.2 length of wave 3rd) maximum rests for trading robots or panic sellers. I will put some pending buy orders @HitBtc and @Zaif but in hope for get fast free of cost XEMs. Before trend change here should be that panic shortlived dump and daily close with intresting candle and long shadow.
IH&S formation is near to attack of the neckline.I had some hopes in my previous idea for panic dump, to get more cheap XEMs than 10cents, but this price formation can be here shortterm or midterm game changer. Of course i dont hope here now for whole trend change, only jumps to test 14 or even 20cents are possible (without big announcements, only in case of more bullish power on whole market). After that jump i still expect fading of price to retest 10cents and slow, horizontal accumulation phase by big players. But if this formation will fail, the bearish scenario from my last idea will be in play.
Ermanometric bottom here...looks good. It is first time since i analyse XEMUSD, when ermanometric reversal day have worked so accurate. Ermanometry of course is not always so accurate (like resistances and supports levels - see also the previous potential reversal day market as 106 vertical line on my chart, now work like ermanometric pivot and was like resistance @around 12cents), but is worth to look at it for sure. Will be here another wave down or it was a final bottom? Honestly, that can only confirm market behaviour not my wishes. XEM 1.17% is worth to observe - if another wave down will occur it will be much cheaper to collect for longterm hold. 10-12 cents of course looks also cheap, but is around 1bln$ capitalization. We have not uptrend in crypto, there is sometimes FUD produced by Morgans or Goldmans or other branches of banksters, so with that in mind 10-12cents is not yet so attractive. And i expect new bottom @BTCUSD this year, so the upspike @XEMUSD if will occur, should be shortlived - depends on market makers of course (pumpers&dumpers teams).
Near pricing a High. Short on Resistance.The pattern transformation from the 1W Channel Down (MACD = -0.080, Highs/Lows = -0.0417, B/BP = -0.1109) to the 1D Falling Wedge (RSI = 43.716, MACD = -0.010) was successful on XEMUSD and the price is now rising towards a 0.12059545 High. Short TP remains 0.060.
