NEO/USD Elliott Wave technical analysis [Video]

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 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)

• 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]