Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartNEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: FlatPosition: Wave (2)Direction Next higher Degrees: Wave ((2)) of ImpulseWave 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 ChartNEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: FlatPosition: Wave (2)Direction Next higher Degrees: Wave ((2)) of ImpulseWave 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 SomboonsodSource: Tradinglounge.comMore By This Author:Unlocking ASX Trading Success: Transurban Group – Monday, Nov. 11
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