NEO/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction Next higher Degrees: Wave ((3)) of Impulse.
Wave Cancel invalid Level: 9.85.
Details: Wave (3) is Equal to 161.8% of Wave (1) at 24.52.
NEO/USD trading strategy
NEO is still in an uptrend from Prices remain in the third wave price structure. We expect the price to test the 40.75 level, which is 161.8% of the length of the first wave. So look for opportunities to join the uptrend.
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave (C).
Direction Next higher Degrees: Wave ((2))) of Impulse.
Wave Cancel invalid Level: 9.85.
Details: The Wave ((2)) is equal to 61.8% of Wave ((1)) at 14.24.
NEO/USD trading strategy
NEO is still in an uptrend. But there may be a short-term pullback of the second wave at the level of 14.14 before rising again in the third wave. So wait for the correction to complete to rejoin the trend.
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD Elliott Wave technical analysis [Video]
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