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 / U.S. dollar (NEOUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.
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 daily chart
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 / U.S. dollar (NEOUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.
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 four-hour chart
NEO Elliott Wave technical analysis [Video]
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