Elliott Wave Analysis TradingLounge Daily Chart,NEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave (II) of ImpulseWave Cancel invalid Level: 9.85Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 LevelNEO/ U.S. dollar(NEOUSD)Trading Strategy:Wave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,NEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave (II) of ImpulseWave Cancel invalid Level: 9.85Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 LevelWave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
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