Elliott Wave Analysis TradingLounge Daily Chart, 16 November 23,

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 ((B)) of Flat

Wave Cancel invalid Level: 6.49

Details: Wave (Y) may end and Five-wave rise will support idea

Neo/ U.S. dollar(NEOUSD)Trading Strategy: The rally in wave (1) appears to have ended at the 15.46 level and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Wave (1) Therefore, Neo's trend is still up. The reversal is only short term to continue the wave (3).

Neo/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge 4H Chart, 16 November 23,

Neo/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (B)

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: The rally in wave (1) appears to have ended at the 15.46 level and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Wave (1) Therefore, Neo's trend is still up. The reversal is only short term to continue the wave (3).

Neo/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.