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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