NEO/USD (NEOUSD) Elliott Wave Analysis - TradingLounge Daily Chart

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

Direction Next Higher Degree: Wave ((2)) of Impulse

Wave Cancel Invalid Level: –

Details:
Wave (2) appears to be concluding, with prices showing upward momentum in Wave (3).

NEO/USD Trading Strategy:

• Wave (2) correction is likely complete, with Wave (3)'s five-wave rally coming into focus.
• The price action suggests a strong uptrend, offering a potential re-entry opportunity into the trend.

NEO/USD Technical Indicators:

• The price is trading above the MA200, confirming the ongoing uptrend.
• The Wave Oscillator indicates bullish momentum, supporting the upward bias.

NEO/USD (NEOUSD) Elliott Wave Analysis - TradingLounge 4-Hr Chart

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

Direction Next Higher Degree: Wave ((2)) of Impulse

Wave Cancel Invalid Level: –

Details:
Wave (2) seems to be concluding, with upward momentum indicating the start of Wave (3).

NEO/USD Trading Strategy:

• The corrective Wave (2) appears complete, shifting focus to the anticipated five-wave rally in Wave (3).
• Price action remains in an uptrend, offering strategic opportunities to re-enter long positions.

NEO/USD Technical Indicators:

• The price sustains levels above MA200, signaling a continuing bullish trend.
• The Wave Oscillator reflects strong bullish momentum, aligning with upward price movement.

Technical Analyst:  Kittiampon Somboonsod

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