24Feb

NEOUSD Elliott Wave Technical Analysis: Price Prediction, Trading Strategy, Support & Resistance Levels for NEO/USD Market Trends

NEOUSD Elliott Wave Analysis – TradingLounge Daily Chart)

NEO/ U.S. Dollar (NEOUSD) Daily Chart Analysis

NEO/USD Elliott Wave Technical Analysis

  • Function: Counter Trend
  • Mode: Corrective
  • Structure: Zigzag
  • Position: Wave ((C))
  • Next Higher Degree Direction: Wave Y
  • Wave Cancel Invalid Level: Not applicable
  • Analysis Details: The correction follows a WXY pattern, concluding around 8.688 USD, signaling a potential turning point.

NEO/USD Trading Strategy – Daily Chart

NEO/USD is currently undergoing a corrective Wave II phase, following the completion of Impulse Wave I, which peaked at 26.126 USD. The corrective movement is forming a W-X-Y (Double Zigzag) structure, indicating a complex corrective wave pattern.

Trading Strategy

Long Entry Strategy:

  • Monitor for a reversal signal near 9.977 USD before considering a buy position.

Risk Management:

  • Set a Stop Loss at 8.730 USD to mitigate downside risk.

NEOUSD-1D-Crypto-Cha...


NEOUSD Elliott Wave Analysis – TradingLounge H4 Chart

NEO/USD Elliott Wave Technical Analysis (H4 Chart)

  • Function: Counter Trend
  • Mode: Corrective
  • Structure: Zigzag
  • Position: Wave ((C))
  • Next Higher Degree Direction: Wave Y
  • Wave Cancel Invalid Level: Not applicable
  • Analysis Details: The corrective phase maintains a WXY pattern, bottoming around 8.688 USD, reinforcing the possibility of a trend shift.

NEO/USD Trading Strategy – H4 Chart

Similar to the Daily Chart analysis, NEO/USD remains in Wave II correction, having completed Impulse Wave I at 26.126 USD. The market is forming a W-X-Y (Double Zigzag) pattern, confirming an extended corrective structure.

Trading Strategy

Long Entry Strategy:

  • Look for a bullish reversal signal near 9.977 USD to initiate a buy trade.

Risk Management:

  • Maintain Stop Loss at 8.730 USD to protect against further declines.

Technical Analyst: Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: BTCUSD Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

NEOUSD-4h-Crypto-Cha...


Conclusion & Key Insights

  • NEO/USD is currently in a corrective phase, with a WXY formation signaling potential trend continuation.

  • Key Buy Zone: 9.977 USD (confirmation required).
  • Stop Loss Recommendation: 8.730 USD (risk management).
  • Potential Upside: If reversal signals confirm, the next leg could lead to Wave Y expansion.

Related

Explore the current Bitcoin Crypto Price trends Today Elliott Wave Technical Analysis to make informed decisions

Explore the current Bitcoin Crypto Price trends Today Elliott Wave Technical Analysis to make informed decisions

In this article, we provide a detailed BTCUSD Elliott Wave analysis focusing on Bitcoin price trends...

Read More >
Cardano Crypto Price News Today: Our Detailed Elliott Wave Technical Analysis ADAUSD Provides Detailed Insights

Cardano Crypto Price News Today: Our Detailed Elliott Wave Technical Analysis ADAUSD Provides Detailed Insights

Our detailed Elliott Wave Analysis for Cardano (ADAUSD) provides comprehensive insights into price p...

Read More >
Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100, ASX 200.

Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100, ASX 200.

TradingLounge delivers expert Elliott Wave analysis and actionable trading setups across key indices...

Read More >
Discover the Bullish Path of Coffee Commodity Prices, Key Targets, and Actionable Strategies: Coffee Elliott Wave Technical Analysis

Discover the Bullish Path of Coffee Commodity Prices, Key Targets, and Actionable Strategies: Coffee Elliott Wave Technical Analysis

This article provides an in-depth coffee Elliott wave analysis, covering price predictions, market t...

Read More >
Elliott Wave Analysis: SP500, NASDAQ, DAX 40, FTSE 100, ASX200. Insights & Strategies for Investing

Elliott Wave Analysis: SP500, NASDAQ, DAX 40, FTSE 100, ASX200. Insights & Strategies for Investing

Stay updated with Elliott Wave Analysis ahead of Jobless Claims Thursday. Anticipate completion of c...

Read More >
Euro/U.S.Dollar(EURUSD) Forex Elliott Wave Technical Analysis: A Comprehensive Trading Guide

Euro/U.S.Dollar(EURUSD) Forex Elliott Wave Technical Analysis: A Comprehensive Trading Guide

This guide offers a detailed examination of EURUSD Elliott Wave analysis across both daily and 4-hou...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on