NEO Elliott Wave Technical Analysis 30 September 2022

Elliott Wave Analyst - tradinglounge • Sep 30, 2022 at 7:58 AM EDT

Bear Market Efforts The price tends to trade below the 7.97 level, and it This could be an opportunity to open a short position.but must not return above 9.64

Elliott Wave Analysis TradingLounge Daily Chart, 30 September 2022, NEO (NEOUSD)
NEOUSD Elliott Wave Technical Analysis

Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: Wave (5) of Motive Details: The decline of wave((5)) tends to trade below 7.97 and there is an opportunity to hit wave 5 price target equal to wave 1 at 2.25 level.

Wave Cancel invalid Level: 12.62
NEO (NEOUSD) Trading Strategy: Bear Market Efforts The price tends to trade below the 7.97 level, and it This could be an opportunity to open a short position.but must not return above 9.64
NEO (NEOUSD)Technical Indicators: The price is above the MA200, and MA50 line.

MACD is above the zero line momentum is bullish.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 30 September 2022, NEO (NEOUSD)
NEOUSD Elliott Wave Technical Analysis

Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: Wave (5) of C
Details: the decline of wave((5)) tends to trade below 7.97 and there is an opportunity to hit wave 5 price target equal to wave 1 at 2.25 level.

Wave Cancel invalid Level: 12.62
NEO (NEOUSD) Trading Strategy: Bear Market Efforts The price tends to trade below the 7.97 level, and it This could be an opportunity to open a short position.but must not return above 9.64
NEO (NEOUSD)Technical Indicators: The price is above the MA200, and MA50 line. momentum is bullish.

(Click on image to enlarge)

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