Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartNEO/ 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:
The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y. So wait for the correction to complete to re-enter 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.
Elliott Wave Analysis TradingLounge H4 ChartNEO/ 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:
The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter 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.com
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