TradingLounge NEOUSD Elliott Wave Analysis Daily Chart

NEO/USD Daily Chart Analysis

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Next Higher Degrees Direction: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

NEO/USD (NEOUSD) Trading Strategy:

The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter the uptrend.

NEO/USD (NEOUSD) Technical Indicators:

The price is below the MA200, indicating a downtrend. The Wave Oscillator shows bearish momentum.

NEOUSD Elliott Wave Analysis TradingLounge H4 Chart

NEO/USD 4-Hour Chart Analysis

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Next Higher Degrees Direction: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

NEO/USD (NEOUSD) Trading Strategy:

The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter the uptrend.

NEO/USD (NEOUSD) Technical Indicators:

The price is below the MA200, indicating a downtrend. The Wave Oscillator shows bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

See Previous: Binance/ U.S. Dollar Pair Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support