NEOUSD Elliott Wave Analysis: TradingLounge Daily Chart
NEO / U.S. Dollar (NEOUSD) Daily Chart Analysis
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree Direction: Wave (II) of Impulse
Wave Invalidation Level: 9.85
Details: The corrective Wave (II) appears to have concluded, suggesting that the price is starting to resume its upward trend.
NEO / U.S. Dollar (NEOUSD) Trading Strategy
The Wave (II) correction seems complete, and the price may continue moving higher. Traders should look for an entry point to ride the Wave (III) uptrend.
NEO / U.S. Dollar (NEOUSD) Technical Indicators
- Moving Average (MA200): The price remains below the 200-day moving average, indicating a bearish trend.
- Wave Oscillator: Displays bearish momentum.
NEOUSD Elliott Wave Analysis: TradingLounge 4-Hour Chart
NEO / U.S. Dollar (NEOUSD) 4-Hour Chart Analysis
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree Direction: Wave (II) of Impulse
Wave Invalidation Level: 9.85
Details: The Wave (II) correction seems to have ended, and the price is likely to continue its uptrend.
NEO / U.S. Dollar (NEOUSD) Trading Strategy
With the Wave 2 correction likely over, there is a strong possibility for prices to push higher. Traders should aim for a position in the Wave 3 uptrend.
NEO / U.S. Dollar (NEOUSD) Technical Indicators
- Moving Average (MA200): The price remains under the 200-period moving average, maintaining a downtrend bias.
- Wave Oscillator: Indicates bearish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
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