Hey again all,
If we take a look at the symmetry between July/Aug pump and correction and DEC-FEB, we can see that NEM is following same script and has just dipped below the level of last summer's breakout which occured at the 61.8 retracement. We are now approaching the 78.6 retracement now and have pierced the bottom line of the falling wedge. I'm expecting a reversal very soon.
Also, if anyone can provide a link or instruction on how to update and idea by embedding a chart in the update box I'd appreciate it as I was wanting to update previous NEM idea but had issues with this so just posted new one. Only addition from that post is the massively oversold RSI also indicating a reversal is coming.
GL trading.
I am hodling some NEM so will ride it but this presents as an attractive short term swing or even day trade...not that I'm suggesting a trade or anything, just sharing ideas over here.
If we take a look at the symmetry between July/Aug pump and correction and DEC-FEB, we can see that NEM is following same script and has just dipped below the level of last summer's breakout which occured at the 61.8 retracement. We are now approaching the 78.6 retracement now and have pierced the bottom line of the falling wedge. I'm expecting a reversal very soon.
Also, if anyone can provide a link or instruction on how to update and idea by embedding a chart in the update box I'd appreciate it as I was wanting to update previous NEM idea but had issues with this so just posted new one. Only addition from that post is the massively oversold RSI also indicating a reversal is coming.
GL trading.
I am hodling some NEM so will ride it but this presents as an attractive short term swing or even day trade...not that I'm suggesting a trade or anything, just sharing ideas over here.