Technicals: NEO has been stuck in an ABCDE triangle correction for the past month. But the recent price action does not inspire confidence that we will be going up for that Wave E. I would have preferred to see the reversal that we saw at Wave B. Eventually support will have to give way. From Elliot Wave stand point, Wave D has a high probability of a breakdown. This kind of correction is usually found in a Wave 4 so we can safely come to the conclusion that we are in a larger Wave 4 correction. So far, odds of us breaking down are higher than up. Instead of guessing which way we will get a breakout I've put in high confidence entry points for long and short trades. These entry points are not for high leverage traders since the Stop Loss points of invalidation have a high loss ratio.
Time for some theatrics, we are at the point where Agent Smith has shot NEO and his heart has stopped. Now we must wait and watch if in our alternate universe whether the heart starts beating again and whether NEO is able to destroy Agent Smith (Bears)
Now before you jump to conclusions about how I'm delusional and how I'm a perma-bear, lets see my NEO history.
Target Hit
Target Hit
In Progress
Okay so what now? We wait and watch. This triangle is a no trade zone. Wave E is not worth the risk.
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
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I wish I had something positive to say about NEO. Breached the support line thrice so far and managed to come back up. How long will it be able to keep that up? Don't FOMO and try to predict the direction
brother u doing pretty good job ,I like ur ideas and its awesome... no one can predict 100% buy ur idea give path to go on right way ...great work and glade to see ur ideas ...pls keep do this job and try to help community ,community need people like u for fight agains big fishes ....love u see ur next post ...
blackgold2014
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...no one can predict 100% but ur idea ....
ShounakShetty
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@blackgold2014, Thank you so much for kind words mate! I really really appreciate the feedback. I try my best to put forward logical scenarios.
blackgold2014
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@ShounakShetty, brother in this crazy crypto world normal investors like me, we really need people like u ....this battle between big fat fish who don't need anymore food and normal investors who have honest dream to success in life ...but unfortunately big fishes eating more than they need and normal people are hungry as usual ...pls help community as possible as u can ...form today I m gonna wait everyday fro ur next idea also I will spread u and ur idea as maximum I can ..thanks
ShounakShetty
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@blackgold2014, I'm really glad I can be of assistance. I'm just so used to hearing criticism that I'm feeling awkward that someone actually liked my idea :D
MagdyEl-Nidany
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Reached bottom ?
More dips to come
ShounakShetty
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@MagdyEl-Nidany, Refer to this chart, There's much more to go but I wouldn't suggest shorting NEO anymore. Funding fee is close to 1% per day. That would eat up all the profits.