The NXT Buy Zone

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 The NXT buy Zone

 

This is a very important order block for NXT. Price has pushed through the 80% retrace zone and is sitting inside the second and final supportive order block. We can also see a blatantly obvious descending wedge, which tend to break upwards most of the time. If this was a high-cap market I would be buying here with a tight stop for sure. The thing that gives me just a bit of concern is that NXT has done greater than 100% retraces many times before. If you like rolling the dice then this is a zone to take interest. Use a tight stop because if it drops much more there is no support thus a deeper retrace to 1000 then 800 is likely.

 

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