NEO/USD trading strategy: It is in a corrective wave structure nearing its end. If it can break through the bullish level at $15.414, it will confirm that a new uptrend has started. However, if it breaks the support level at $8.688, beware of a deeper correction. Traders should closely monitor key market signals before making any investment decisions.

Trading strategies

Buy strategy (long position):

Wait for a break of resistance at $15.414 before entering a long position to confirm the uptrend. The main target is wave (III) which has the potential to generate high returns.

Risk management:

If the price breaks the support level of $8.688, it indicates that the correction is not over yet and the price is likely to continue to fall.

NEO/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Zigzag.

Position: Wave ((C)).

Direction next higher degrees: Wave Y.

Wave cancel invalid level:

NEO/ U.S. dollar (NEO/USD) trading strategy: It is in a corrective wave structure nearing its end. If it can break through the bullish level at $15.414, it will confirm that a new uptrend has started. However, if it breaks the support level at $8.688, beware of a deeper correction. Traders should closely monitor key market signals before making any investment decisions.

Trading strategies

Buy strategy (long position):

Wait for a break of resistance at $15.414 before entering a long position to confirm the uptrend. The main target is wave (III) which has the potential to generate high returns.

Risk management: