NEO Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge Daily Chart

NEO/ U.S. dollar (NEOUSD)

NEO/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave B.

Direction next higher degrees: Wave (II) of Impulse.

Wave cancel invalid level: 9.85.

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level.

NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again.

NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.

NEO/USD Elliott Wave analysis four-hour chart

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave B.

Direction next higher degrees: Wave (II) of Impulse.

Wave cancel invalid level: 9.85.

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level.

NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again.

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

NEO Elliott Wave technical analysis [Video]