NEO/USD Elliott Wave technical analysis
NEO/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction next higher degrees: Wave ((3)) of Impulse.
Wave cancel invalid level: 9.85.
Details: Wave (3) is Equal to 161.8% of Wave (1) at 24.52.
NEO/USD trading strategy
Neo is still in an uptrend. In the structure of the increase in Wave 3, we expect it to test the 161.8% level of Wave 1 at 24.52. Therefore, overall, NEO is still in an uptrend and is likely to continue rising.
Neo/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD daily chart
NEO/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction next higher degrees: Wave ((3)) of Impulse.
Wave cancel invalid level: 9.85.
Details: Wave (3) is Equal to 161.8% of Wave (1) at 24.52.
NEO/USD trading strategy
Neo is still in an uptrend. In the structure of the surge in Wave 3, we expect it to test the 161.8% level of Wave 1, but even so, Wave 1, sub-Wave 3, is already complete. The price is entering a period of correction before rising again.
Neo/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD four hour chart
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
