On the daily chart, the price action of the NEM (XEM) coin is completing the final leg of bullish Shark and soon it will be entered in the potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $0.1576 to $0.1240
Fibonacci projection or sell zone: $0.1989 to $0.2788
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Stop Loss:
The potential reversal zone area that is up to $0.1240 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 124% and as per the above-mentioned stop loss, the loss possibility is 21.5%.
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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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