NEO Coin U.S.dollar(NEOUSD) Elliott Wave Technical Analysis 20 January 23

Elliott Wave Analyst - tradinglounge • Jan 19, 2023 at 10:12 PM EST

NEO coin U.S.dollar (NEOUSD)Trading Strategy: Neo Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again in wave (2) larger Degree

Elliott Wave Analysis TradingLounge Daily Chart, 20 January 23,

NEO coin U.S.dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: Wave ((5)) tends to end Prices are rising again.

Wave Cancel invalid Level: 5.96

NEO coin U.S.dollar(NEOUSD) Trading Strategy: NEO has recovered well from the 5.96 level, but even so, the price is still below the MA200, which may still be under pressure from selling pressure. And there is a reversal chance in wave 2 and an opportunity to join the trend again once wave 2 completes.

NEO coin U.S.dollar(NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 20 January 23,

NEO coin U.S.dollar (NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: Wave 1 of Motive

Details: Wave 5 is always .618 x wave 1 through wave 3

Wave Cancel invalid Level: 5.96

NEO coin U.S.dollar (NEOUSD)Trading Strategy: Neo Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again in wave (2) larger Degree

NEO coin U.S.dollar (NEOUSD)Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators have hidden bullish divergence the price trend reversal.

(Click on image to enlarge)

More By This Author:

SP500 Elliott Wave Correction Lower To Continue, Today's Rally On Lower Volume
Elliott Wave Technical Analysis: O'Reilly Automotive Inc., Thursday, Jan. 19
U.S. Stock Market Report - Elliott Wave Analysis

Disclosure:

As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.

STOCKS IN THIS ARTICLE

Also Mentions:

Comments

Back to all articles