NEOUSD Elliott Wave Technical Analysis 06 December 2022
4 Hour
NEO / U.S.Dollar (NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: Wave ((1)) of Impulse
Details: The increment of wave 3 is usually 1.618 x the length of wave 1.
Wave Cancel invalid Level: 6.01
NEO / U.S.Dollar (NEOUSD) Trading Strategy: NEO Coin is likely to end its downtrend as wave 5 of the Diagonal Triangle, ending at the 6.01 level, is likely to turn bullish again. But even so, one has to watch carefully as the price is still below the MA200 lines, which may cause the price to continue to be pressured by selling pressure. The overall trend is likely to reverse to an upward trend, but trading during this period may be cautious.
NEO / U.S.Dollar (NEOUSD) Technical Indicators: The wave oscillator Above Zero-Line momentum is bullish
Daily
NEO / U.S.Dollar (NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: Wave III of Motive
Details: rise of wave 3 usually has a length of 1.618 x wave1
Wave Cancel invalid Level: 6.01
NEO / U.S.Dollar (NEOUSD) Trading Strategy: NEO Coin is likely to end its downtrend as wave 5 of the Diagonal Triangle, ending at the 6.01 level, is likely to turn bullish again. But even so, one has to watch carefully as the price is still below the MA200 and MA50 lines, which may cause the price to continue to be pressured by selling pressure. The overall trend is likely to reversal to an upward trend, but trading during this period may be cautious.
NEO / U.S.Dollar (NEOUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum
