NEO/ U.S. Dollar (NEOUSD) Elliott Wave Analysis - TradingLounge Daily Chart 

NEOUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((2))

Next Higher Degree Direction:

Wave Cancel Invalid Level:

NEO/ U.S. Dollar (NEOUSD) Trading Strategy
NEOUSD has completed Elliott Wave (1) and is now undergoing a Flat A-B-C correction for wave (2).
Key support is positioned at the Fibonacci 50%–61.8% retracement levels, between $5.05 – $4.87.
This Fibonacci support zone represents a high-probability reversal area, as long as the price remains above the Wave Cancel Invalid level at $4.00.

Trading Strategies

• Strategy

Short-Term Traders (Swing Trade)

✅ Wait for NEOUSD price action to pull back toward the $5.05 – $4.87 Fibonacci zone.

✅ Look for bullish reversal signals such as Candlestick Patterns, RSI Divergence, or Volume Spike.

• Risk Management

🟥 Wave Cancel Invalid: $4.00 (A drop below invalidates the current Elliott Wave count)

NEO/ U.S. Dollar (NEOUSD) Elliott Wave Analysis - TradingLounge H4 Chart 

NEOUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((2))

Next Higher Degree Direction:

Wave Cancel Invalid Level:

NEO/ U.S. Dollar (NEOUSD) Trading Strategy
After completing Elliott Wave (1), NEOUSD is developing a Flat A-B-C corrective structure for wave (2).
Critical Fibonacci retracement support lies between $5.05 – $4.87, providing a potential bullish reversal zone.
This support area is valid as long as NEOUSD holds above the Wave Cancel Invalid level at $4.00.

Trading Strategies

• Strategy

Short-Term Traders (Swing Trade)

✅ Monitor NEOUSD for a retracement toward $5.05 – $4.87 Fibonacci levels.

✅ Identify bullish reversal confirmations like Bullish Candlestick Patterns, RSI Divergence, or Increased Volume.

• Risk Management

🟥 Wave Cancel Invalid: $4.00 (Break below signals Elliott Wave count invalidation)

Technical Analyst: Kittiampon Somboonsod, CEWA

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

Previous: XRPUSD 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