NEOUSD Elliott Wave Analysis - TradingLounge Daily Chart
NEO/ U.S. Dollar (NEOUSD) Daily Chart Analysis
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave (2)
Direction in Next Higher Degrees: Wave ((2)) of Impulse
Wave Invalidation Level: Not specified
Details: Wave 2 appears to be nearing completion, with price expected to rise as wave 3 begins.
NEO/ U.S. Dollar (NEOUSD) Trading Strategy
The correction phase in wave 2 seems to have ended, indicating a likely continuation of the five-wave rally in wave 3. Price action shows an upward trend, signaling potential re-entry points for trend-following positions.
NEO/ U.S. Dollar (NEOUSD) Technical Indicators
- Moving Average (MA200): Price remains below the MA200, which suggests a downtrend.
- Wave Oscillator: Indicates bearish momentum.
NEOUSD Elliott Wave Analysis - 4-Hour Chart
NEO/ U.S. Dollar (NEOUSD) 4-Hour Chart Analysis
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave (2)
Direction in Next Higher Degrees: Wave ((2)) of Impulse
Wave Invalidation Level: Not specified
Details: Wave 2 appears to be ending, with price anticipated to rise into wave 3.
NEO/ U.S. Dollar (NEOUSD) Trading Strategy
The correction in wave 2 seems to be concluding, setting the stage for the anticipated five-wave advance in wave 3. The upward trend suggests opportunities for re-entry into long positions.
NEO/ U.S. Dollar (NEOUSD) Technical Indicators
- Moving Average (MA200): Price remains below MA200, indicating a downtrend.
- Wave Oscillator: Displays bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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