NEO Elliott Wave technical analysis [Video]
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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 likely to have ended and prices are resuming the uptrend.
NEO/USD trading strategy
Overall, NEOUSD Wave (II) is likely to end at the 8.49 level and prices are resuming the uptrend. So look for opportunities to join the uptrend from short-term pullbacks.
NEO/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bullish 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 likely to have ended and prices are resuming the uptrend.
NEO/USD trading strategy
Overall, NEOUSD wave (II) is likely to end at the 8.49 level and prices are resuming the uptrend. So look for opportunities to join the uptrend from short-term pullbacks.
NEO/USD technical indicators
The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.
NEO/USD Elliott Wave technical analysis [Video]
Author

Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.




