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Elliott Wave Analysis TradingLounge Daily Chart, 6 December 23,

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave (B)

Direction Next higher Degrees: Wave ((2)) of Impulse

Wave Cancel invalid Level: 6.49

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

NEO/ U.S. dollar(NEOUSD)Trading Strategy: The rally in wave (1) seems to have ended at the 15.46 level, and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Thus, Neo's trend is still upward, and the reversal is only short-term to continue the wave (3).

NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source : TradingLounge.com 

Elliott Wave Analysis TradingLounge 4H Chart, 6 December 23,

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave (B)

Direction Next higher Degrees: Wave ((2)) of Impulse

Wave Cancel invalid Level: 6.49

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

NEO/ U.S. dollar(NEOUSD)Trading Strategy : The rally in wave (1) seems to have ended at the 15.46 level, and the price is entering a correction period in wave (2), where the reversal of wave (2) is usually .50 or .618 x length. Thus, Neo's trend is still upward, and the reversal is only short-term to continue the wave (3).

NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

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