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Elliott Wave Analysis | TradingLounge Daily Chart

NEO/ U.S. Dollar (NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((2))

Next Higher Degree Direction:

Wave Cancel Invalid Level:

NEO/ U.S. Dollar (NEOUSD) 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)

Elliott Wave Analysis | TradingLounge H4 Chart

NEO/ U.S. Dollar (NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((2))

Next Higher Degree Direction:

Wave Cancel Invalid Level:

NEO/ U.S. Dollar (NEOUSD) 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)

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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