NEO/USD – Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave ((2)).
Direction next higher degrees: -
Wave cancel invalid level: -
NEO/USD trading strategy
Following the end of NEOUSD’s major downtrend near $4.2 and a successful recovery forming wave (1), the price is now stabilizing within the wave (2) structure. This sets up for a potential strong rally into wave (3).
Trading strategies
Strategy
- For short-term traders (swing trade): If the price declines into the $5.05–$4.88 zone and a reversal signal appears, it presents a good opportunity to join the wave (3) uptrend.
Risk management
- If the price drops below $4.2, the structure needs to be reassessed.
NEO/USD – Elliott Wave technical analysis [Video]
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