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Elliott Wave Analysis TradingLounge Daily Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

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

Wave Cancel invalid Level:

Details:Wave 2 is likely to end and price is rising in wave 3.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and the price action remains in an uptrend. We are looking for a re-entry into the trend.

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

Elliott Wave Analysis TradingLounge 4hr Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

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

Wave Cancel invalid Level:

Details:Wave 2 is likely to end and price is rising in wave 3.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and the price action remains in an uptrend. We are looking for a re-entry into the trend.

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

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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