Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartNEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave ((C))Direction Next higher Degrees: Wave (2) of ImpulseWave Cancel invalid Level:Details: the corrective of Wave (2) trend to test 12.366 Level.NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The corrective wave (2) is forming a Zigzag pattern. We are now in the final phase of the decline in wave C to complete the pattern. Wait for wave C to finish before looking for an opportunity 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 4hr ChartNEO/ U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave ((C))Direction Next higher Degrees: Wave (2) of ImpulseWave Cancel invalid Level:Details: the corrective of Wave (2) trend to test 12.366 Level.NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The corrective wave (2) is forming a Zigzag pattern. We are now in the final phase of the decline in wave C to complete the pattern. Wait for wave C to finish before looking for an opportunity to rejoin the uptrend.NEO/ U.S. dollar(NEOUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Netflix Inc. Stocks Elliott Wave Technical Analysis – Tuesday, January 7
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