Image Source: PixabayElliott Wave Analysis TradingLounge Daily Chart
NEO/ U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave B
Direction Next higher Degrees: Wave (II) of Impulse
Wave Cancel invalid Level: 9.85
Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 LevelNEO/ U.S. dollar(NEOUSD)Trading Strategy:
Second-wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to rejoin the uptrend.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 H4 Chart
NEO/ U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave B
Direction Next higher Degrees: Wave (II) of Impulse
Wave Cancel invalid Level: 9.85
Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 LevelNEO/ U.S. dollar(NEOUSD)Trading Strategy:
Second-wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to rejoin the uptrend.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 SomboonsodSource: Tradinglounge.com
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