Elliott Wave Analysis TradingLounge Daily Chart, 6 December 23,
NEO/ U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave (B)
Direction Next higher Degrees: Wave ((2)) of Impulse
Wave Cancel invalid Level: 6.49
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
NEO/ U.S. dollar(NEOUSD)Trading Strategy: The rally in wave (1) appears to have ended at the 15.46 level and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Wave (1) Therefore, Neo's trend is still up. The reversal is only short term to continue the wave (3).
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com get trial here!
Elliott Wave Analysis TradingLounge 4H Chart, 6 December 23,
NEO/ U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave (B)
Direction Next higher Degrees: Wave ((2)) of Impulse
Wave Cancel invalid Level: 6.49
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
NEO/ U.S. dollar(NEOUSD)Trading Strategy : The rally in wave (1) appears to have ended at the 15.46 level and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Wave (1) Therefore, Neo's trend is still up. The reversal is only short term to continue the wave (3).
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.
