NEO/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Double corrective.
Position: Wave Y.
Direction next higher degrees: Wave (II) of impulse.
Wave cancel invalid level: 9.85.
Details: Wave (II) is equal to 61.8% of wave (I) at 10.71 level.
NEO/USD trading strategy
The second wave corrects before rising again in the third wave. In a double corrective pattern, the current state is a decline in wave Y, so wait for the correction to complete to re-enter the uptrend.
NEO/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.
NEO/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Double corrective.
Position: Wave Y.
Direction next higher degrees: Wave (II) of impulse.
Wave cancel invalid level: 9.85.
Details: Wave (II) is equal to 61.8% of wave (I) at 10.71 level.
NEO/USD trading strategy
The second wave corrects before rising again in the third wave. In a double corrective pattern, the current state is a decline in wave Y, so wait for the correction to complete to re-enter the uptrend.
NEO/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.
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NEO/USD Elliott Wave technical analysis [Video]
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