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NEO Elliott Wave technical analysis [Video]

NEO Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

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, NEO/USD 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, NEO/USD 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 [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

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

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