XEM is one of my favorite trends for one important reason, history
massive returns happened over the years and still holding the up trend, to see that consolidation over a long period of time is an indicator of up continuation, the behavior of the impulsive wave is one other reason I like this coin, very aggressive on its impulsive waves, and it's still cheap so...
We do have some impactful USD data coming up - being that Japan and USA are such big trade allies, oftentimes the yen piggybacks on USD strength. I would like to see the price delivered above the midnight algo candle high into the bearish 4H OB- to produce a clean short opportunity for us. Let us see where the price is at and what it is doing at UK open.
Q4 has started could be the beginning of a trend?
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Price will be pulling back to the last week OB then Fall. very good opportunity to swing as Q3 imbalances are gonna be filled until its reaches the 152.50-151 OB.. however the overall trend is bullish from a postion trading mindset.
The 20-day ADR was missed on Thursday and Friday. Moreover, the 20-week AWR was missed as well (both upside and downside). Price expansion is much expected next week. I am still bearish GBPJPY hence I am looking for bull traps at the levels I have illustrated on the chart
Expect updates in the trading days next week in reference to this post.
Continuation for 138?
Price rejecting temporarily 135.8 price
If it breaks initiate long and hold till 138
JXY at resistance
BXY at supply
Potential rally
We also have a potential bear cypher setting up here on thw 1hr.
IF it completes I will be looking to take T1 @ the 382 roll my stop to BE &
look for T2 @ the completion of the bull bat I shared moments ago.
Stop above X
T1 @ 382 of C to D
T2 @ Bull Bat Completion
