Elliott Wave Analysis TradingLounge Daily Chart, 10 January 24,
NEO / U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave C
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: NEO's rise appears to end at the level of 15.46, which is 5 Impulse Waves in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8 % Wave 1. So wait for Wave 2 to complete. end before there is a chance to return to the uptrend again.
NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bearish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: Tradinglounge.com get trial here!
Elliott Wave Analysis TradingLounge 4H Chart, 10 January 24,
NEO / U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Direction Next higher Degrees: Wave ((2)) of Impulse
Wave Cancel invalid Level: 138.262
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
NEO / U.S. dollar(NEOUSD)Trading Strategy: NEO's rise appears to end at the level of 15.46, which is 5 Impulse Waves in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8 % Wave 1. So wait for Wave 2 to complete. end before there is a chance to return to the uptrend again.
NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.
