Image Source: PexelsElliott 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 test the Level 8.22NEO/ U.S. dollar(NEOUSD)Trading Strategy:
This is a 5 wave retracement of wave (C), in which we are in the final stages of wave ((2)), which is likely to test the 8.22 level, so the overall picture is a short term retracement before another rise.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 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 test the Level 8.22NEO/ U.S. dollar(NEOUSD)Trading Strategy:
This is a 5-wave retracement of wave (C), in which we are in the final stages of wave ((2)), which is likely to test the 8.22 level, so the overall picture is a short-term retracement before another rise.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:Bharat Electronics Elliott Wave Technical Analysis
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