$NEXO Breakout Watch: Key Supply Zone Retest in Action🏆🔐🔑👇
Timeframe: 1H & 1D
Current Price: $1.083
1H Chart Insights:📊
$NEXO Price broke internal structure (CHoCH) and BOS, leading to a sharp bullish move.
It’s now testing the $1.083–$1.095 supply zone, showing signs of resistance.
Strong candle rejection from the zone hints at short-term exhaustion.
Stochastic RSI at 98.29 / 100.00, showing extremely overbought territory — short-term correction likely.
EMAs are flattening, suggesting potential pause or reversal ahead.
1D Chart Insights:📊
Still in a bearish daily structure despite the intraday bullishness.
Price faced rejection below the 21 EMA and sits below 200 EMA (1.168).
A key breaker block is visible at $1.115, aligning with resistance cluster.
Stochastic RSI shows room for upward momentum, but caution warranted.
Trade Setup Idea (Short-Term):🧑💻
Sell Zone: $1.083–$1.095 (if price shows rejection confirmation)✅
TP1: $1.072🎯
TP2: $1.060🎯
SL: $1.096 (Above supply zone)☣️
Smart Strategy Tip:👨🏫
Wait for a bearish engulfing or clear rejection pattern in the supply zone. Use 15m confirmation with volume divergence for extra precision.
Pro Tip:🧑🏫
When stochastic hits 100, don’t blindly short. Always look for momentum weakness or a lower timeframe reversal to catch the smart exit.
👨❤️👨"The market punishes impatience. Let the levels work."
Disclaimer:⚠️
This analysis is for educational purposes only. DYOR before investing or trading.
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