NEO/USD Elliott Wave technical analysis [Video]
|NEOUSD Elliott Wave technical analysis
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Function: Follow Trend
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Mode: Motive
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Structure: Impulse
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Position: Wave ((2))
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Next Higher Degree Direction:
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Wave Cancel Invalid Level:
NEO/USD trading strategy
NEO has completed wave (1) and is now consolidating within a Flat A-B-C correction for wave (2).
Key support lies at the Fibonacci 50%–61.8% retracement zone, between $5.05 – $4.87.
This area is a high-probability reversal zone, provided price action does not drop below the W.C. Invalid level at $4.00.
Trading strategies
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Strategy
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Short-term traders (swing trade).
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Wait for the price to retrace toward the $5.05 – $4.87 zone.
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Look for reversal signs (Bullish Candlestick / RSI Divergence / Volume Spike).
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Risk management
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Wave cancel invalid: $4.00 (If price falls below = Wave Count invalidation)
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NEO/USD Elliott Wave technical analysis
-
Function: Follow Trend.
-
Mode: Motive.
-
Structure: Impulse.
-
Position: Wave ((2))
-
Next Higher Degree Direction:
-
Wave Cancel Invalid Level:
NEO/USD trading strategy
Following the completion of wave (1), NEO is forming a Flat A-B-C pattern inside wave (2).
Important support is observed around the Fibonacci 50%–61.8% range, $5.05 – $4.87.
This level offers a strong reversal opportunity, provided it holds above the W.C. Invalid level at $4.00.
Trading strategies
-
Strategy
-
Short-term traders (Swing Trade)
-
Monitor for a retracement toward $5.05 – $4.87.
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Watch for bullish reversal signals (Candle Pattern / RSI Divergence / Volume Increase).
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-
-
Risk management
-
Wave cancel invalid: $4.00 (Break below confirms incorrect wave count).
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NEO Elliott Wave technical analysis [Video]
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