NEO Elliott Wave technical analysis [Video]
|NEO/USD – Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave ((C)).
Next major direction: Wave Y.
Wave invalidation level: Not defined.
NEO/USD trading strategy
NEO has been following a downward trajectory consistent with Elliott Wave principles since early 2025. The fifth wave (V) appears to have completed its sub-wave sequence, suggesting a potential major shift is near. A confirmed breakout above resistance at 6.60 could signal the start of a strong Wave III.
Trading strategies:
Strategy
- For swing traders (short-term): Watch for confirmation of a breakout above the 6.60 resistance level.
Risk management
- If price falls below the wave invalidation level, the bullish setup is void and a reassessment of the wave structure is required.
NEO/USD – Elliott Wave technical analysis [Video]
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