NEO/USD Elliott Wave technical analysis [Video]

NEOUSD 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

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

• Strategy

  • Short-term traders (swing trade).

    • Wait for the price to retrace toward the $5.05 – $4.87 zone.

    • Look for reversal signs (Bullish Candlestick / RSI Divergence / Volume Spike).

• Risk management

  •  Wave cancel invalid: $4.00 (If price falls below = Wave Count invalidation)

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.

    • Watch for bullish reversal signals (Candle Pattern / RSI Divergence / Volume Increase).

• Risk management

  •  Wave cancel invalid: $4.00 (Break below confirms incorrect wave count).

NEO Elliott Wave technical analysis [Video]