Elliott Wave Analysis TradingLounge 4H Chart, 2 November 2022,
4HOUR
NEO (NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (2)
Direction Next higher Degrees: Wave ((1)) of Motive
Details: The decrease of the sub-second wave in wave ((1)) is usually .618 x the length of
the first wave.
Wave Cancel invalid Level: 7.31
NEO (NEOUSD)) Trading Strategy: A short retracement in wave 2 is usually .618 x the
length of wave 1. Upon completion, the price will rise again in an uptrend as an opportunity
to open a long position, but the price must not reverse below 7.31.
NEO (NEOUSD) Technical Indicators: MACD bearish divergence a short-term the price
trend Throwback
DAILY
Elliott Wave Analysis TradingLounge Daily Chart, 2 November 2022,
NEO (NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (2)
Direction Next higher Degrees: Wave ((1)) of Motive
Details: The decrease of the sub-second wave in wave ((1)) is usually .618 x the length of
the first wave.
Wave Cancel invalid Level: 7.31
NEO (NEOUSD) Trading Strategy: The previous downtrend had an opportunity to end as
wave C ended, and the price rose above the MA50 line with an impulse pattern in wave 1
and reversing in wave 2 as an opportunity to join another uptrend. time
NEO (NEOUSD) Technical Indicators: MACD and MACD Histogram has a bullish
divergence The price has a chance to turn into an Uptrend.
