NEO/USD Elliott Wave technical analysis [Video]
|NEO/USD 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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Current position: Wave ((3)).
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Next higher direction: Awaiting.
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Invalidation level: Not specified.
NEO/USD trading strategy
NEO appears to present a buying opportunity during the wave (2) pullback. A significant upward move is expected in wave ③. As long as the price holds above the key Fibonacci retracement area and remains above $5, this setup could serve as a valuable entry point for Elliott Wave followers.
Trading strategies
- Strategy overview:
- Short-term traders (swing trade)
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Monitor for a price reversal near the $6.2–$5.7 range, which is considered a low-risk buying zone.
- Risk management:
- Place a Stop Loss just under $5.00 to control downside exposure.
NEO/USD Elliott Wave technical analysis
-
Function: Follow Trend.
-
Mode: Motive.
-
Structure: Impulse.
-
Current position: Wave ((3)).
-
Next higher direction: Awaiting.
-
Invalidation level: Not specified.
NEO/USD trading strategy
NEO is still within a potential buy zone as part of a wave (2) correction. A notable rise is forecasted in wave ③. The critical support remains at $5, and staying above this threshold strengthens the case for a bullish move.
Trading strategies
Strategy overview:
Short-term traders (swing trade)
- Look for a reversal near the $6.2–$5.7 level for a potential entry.
Risk management:
- Use a Stop Loss just below $5.00 for protection.
NEO/USD Elliott Wave technical analysis [Video]
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