NEO/USD Elliott Wave technical analysis [Video]
|NEO/USD Elliott Wave technical analysis
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Function: Counter-Trend.
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Mode: Corrective.
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Structure: Zigzag.
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Position: Wave ((C)).
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Direction (next higher degree): Wave Y.
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Wave invalidation level:
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Details: The correction follows a WXY pattern, which concluded around 8.688 USD.
NEO/USD trading strategy
The correction pattern, a WXY structure, reached its completion near 8.688 USD.
- Major Resistance: 15.414 USD (Bullish Level) → A confirmed breakout at this level indicates the start of an uptrend.
Trading strategies
Long strategy:
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Aggressive Entry: Buy within the 9.988 - 8.688 USD range if a reversal signal appears.
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Breakout Entry: Enter a buy position if the price breaks through 15.414 USD with strong volume.
Risk management:
- Invalidation Point: Exit the position if the price falls below 8.688 USD.
NEO/USD daily chart
NEO/USD Elliott Wave technical analysis
-
Function: Counter-Trend.
-
Mode: Corrective.
-
Structure: Zigzag.
-
Position: Wave ((C)).
-
Direction (next higher degree): Wave Y.
-
Wave invalidation level:
-
Details: Currently in a Wave (2) correction, with Fib 0.618 support at 9.988 USD.
NEO/USD trading strategy
The correction follows a WXY pattern, which has concluded around 8.688 USD.
- Major Resistance: 15.414 USD (Bullish Level) → A confirmed breakout at this level signals an uptrend continuation.
Trading strategies
Long strategy:
-
Aggressive Entry: Buy within 9.988 - 8.688 USD if a reversal signal emerges.
-
Breakout Entry: Enter a buy position once the price surpasses 15.414 USD with strong volume.
Risk management:
- Invalidation Point: Exit the trade if the price drops below 8.688 USD.
NEO/USD four-hour chart
NEO/USD Elliott Wave technical analysis [Video]
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