Elliott Wave Analysis TradingLounge Daily Chart
NEO/ U.S. dollar(NEOUSD)
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/ U.S. dollar (NEOUSD) Trading Strategy: Wave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.
NEO/ U.S. dollar (NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
NEO/USD Elliott Wave analysis four-hour chart
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.
Wave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
NEO Elliott Wave technical analysis [Video]
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