NXS is looking in upward trend as it is making higher highs and higher lows since MAY 2020.
Recently. NXS broke the weekly resistance at 2065, which was then tested twice, making it strong support.
A new candle has open above Monthly level at 2250. It is going to test the newly created support at 2250. If it is rejected then NXS will be in bullish move.
Right now, NXS is converging in upward move respecting the upper trend line. As shown with black arrow lines, this pattern can be seen in upcoming days.
Optimal point to enter the trade would be 2250 if it test the support and gets rejected. Then you can secure 5 percent profit up to monthly resistance and can exit the trade.
If monthly resistance is broken then ride again for the long.
Recently. NXS broke the weekly resistance at 2065, which was then tested twice, making it strong support.
A new candle has open above Monthly level at 2250. It is going to test the newly created support at 2250. If it is rejected then NXS will be in bullish move.
Right now, NXS is converging in upward move respecting the upper trend line. As shown with black arrow lines, this pattern can be seen in upcoming days.
Optimal point to enter the trade would be 2250 if it test the support and gets rejected. Then you can secure 5 percent profit up to monthly resistance and can exit the trade.
If monthly resistance is broken then ride again for the long.