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NEO / U.S. dollar(NEOUSD) Elliott Wave Technical Analysis 10 January 24


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Elliott Wave Analysis TradingLounge Daily Chart, 10 January 24,

NEO / U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: Wave (2) of Impulse

Wave Cancel invalid Level: 6.49

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

NEO / U.S. dollar(NEOUSD)Trading Strategy: NEO's rise appears to end at the level of 15.46, which is 5 Impulse Waves in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8 % Wave 1. So wait for Wave 2 to complete. end before there is a chance to return to the uptrend again.

NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bearish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

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Elliott Wave Analysis TradingLounge 4H Chart, 10 January 24,

NEO / U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave (Y)

Direction Next higher Degrees: Wave ((2)) of Impulse

Wave Cancel invalid Level: 138.262

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

NEO / U.S. dollar(NEOUSD)Trading Strategy: NEO's rise appears to end at the level of 15.46, which is 5 Impulse Waves in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8 % Wave 1. So wait for Wave 2 to complete. end before there is a chance to return to the uptrend again.

NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a dowtrend, Wave Oscillators a bearish Momentum.

 

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