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NEO/U.S. dollar(NEOUSD)

NEOUSD 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(NEOUSD)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/U.S. dollar(NEOUSD)

NEOUSD 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(NEOUSD)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.

Technical Analyst: Kittiampon Somboonsod

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