Image Source: Elliott Wave Analysis TradingLounge Daily ChartNEO / U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave (II) of ImpulseWave Cancel invalid Level: 9.85Details: Wave (II) is likely to have ended and prices are resuming the uptrend.NEO / U.S. dollar(NEOUSD)Trading Strategy:
It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend.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 H4 ChartNEO / U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave (II) of ImpulseWave Cancel invalid Level: 9.85Details: Wave (II) is likely to have ended and prices are resuming the uptrend.NEO / U.S. dollar(NEOUSD)Trading Strategy:
It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.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.com More By This Author:
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