NEO/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (2).
Direction next higher degrees: Wave ((2)) of Impulse.
Details: Wave 2 is likely to end and price is rising in wave 3.
NEO/US Dollar (NEO/USD) trading strategy: The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into the trend.
NEO/US Dollar (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
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (2).
Direction next higher degrees: Wave ((2)) of Impulse.
Details: Wave 2 is likely to end and price is rising in wave 3.
NEO/US Dollar (NEO/USD) trading strategy: The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into the trend.
NEO/US Dollar (NEOUSD) technical indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.
NEO Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Bitcoin breaks all-time high above $106,000, triggers nearly $120 million in liquidations
Bitcoin hit a record high above $106,000 on Monday, after recent developments on President-elect Donald Trump’s strategic Bitcoin reserve and demand from institutional traders.
Ripple week in review: Can XRP's recent pullback prove a slingshot effect
XRP weekly active addresses dropped by over 180K after its recent price correction. XRP investors continue record profit-taking for the second consecutive week with nearly $2.2 billion in realized profits.
BiT Global slams Coinbase with $1 billion lawsuit over delisting of WBTC
In a lawsuit filed on Friday, BiT Global, headed by Tron founder Justin Sun, charged Coinbase exchange for violating antitrust laws after it delisted the Wrapped Bitcoin token from its platforms and requested $1 billion in damages.
Crypto Today: XRP, BNB advance as Blackrock records 16-day Ethereum buying spree
The cryptocurrency sector valuation grazed the $3.6 trillion mark on Thursday, recording $252 billion worth of inflows since the market crash halted on Tuesday. In the last 24 hours, 85,893 traders were liquidated with the total liquidations coming in at $204.96 million.
Bitcoin: BTC reclaims $100K mark
Bitcoin (BTC) reclaimed the $100K level, trading near $100,100 on Friday after a recent decline earlier this week. The recent pullback in BTC was mostly due to high-leverage traders and some holders booking profits. Despite Microsoft’s rejection of adding Bitcoin to the company’s balance sheet, institutional demand remained strong, recording a total inflow of $1.72 billion until Thursday.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.