3
100%
u/ResolutionSmall3692
2 days ago
Other (chain not covered by other flairs)
NEXO 3h chart setup: Looking for the support retest before the next push up
I was charting out NEXO on the 3-hour timeframe today and there’s a pretty clear game plan forming around these local support levels.
Here is how I’m playing it:
* The primary watch zone: I’m expecting price to retest support—specifically around 0.733 or potentially down near 0.719 - before we see another real attempt to push higher.
* The long targets: If 0.733 holds and prints a clean bullish confirmation signal, I’m targeting a move back up toward 0.739 and 0.749.
* The secondary buy zone: If 0.733 fails to hold, the next pocket I’m watching for long entries is **0.719 – 0.714** (again, waiting for confirmation before clicking buy).
* The liquidity sweep setup: Keep an eye out for a quick wick below 0.721 (the recent swing low) that gets instantly reclaimed. That kind of fake-out sweep usually offers a high-probability long entry.
* When the bias flips: I only flip bearish if we get a strong close below the 0.719 – 0.714 area with heavy volume. A breakdown there likely opens the door down to 0.708 – 0.705.
If you're taking a trade here, standard risk management applies, put your stop-loss right under the swing low of your entry candle to protect yourself. NFA