Keep it simple!
NEO has shown to be an amazing trade recently, soaring 70% up from our buy zone, and close to its second profit target!
Many people were expecting NEO to continue to drop - including myself, and reach my low green buy zone. However, NEO found support at the 8400 Sat range. This level was key to watch as this was a weekly important zone - my red line.
Unfortunately before hitting this level NEO rose. This type of movement is called "front-running". where people expect a particular level to be hit but the investment doesn't quite reach that particular level. This still count's as a touch in trading terms.
From here we can see NEO do two things.
1 - the green box is held as support, and we see the next profit targets (orange boxes) be hit. OR
2 - NEO hits the next resistance level, comes down and the green box is not held. In this case the second green box is likely to be tested.
Either way Profit can be made, and people who have already longed should be VERY profitable.
Don't FOMO from here. Wait and see what NEO decides to do. Have longs placed in the green boxes and a tight stop just below the range. Never enter mid range of a movement!
NEO has shown to be an amazing trade recently, soaring 70% up from our buy zone, and close to its second profit target!
Many people were expecting NEO to continue to drop - including myself, and reach my low green buy zone. However, NEO found support at the 8400 Sat range. This level was key to watch as this was a weekly important zone - my red line.
Unfortunately before hitting this level NEO rose. This type of movement is called "front-running". where people expect a particular level to be hit but the investment doesn't quite reach that particular level. This still count's as a touch in trading terms.
From here we can see NEO do two things.
1 - the green box is held as support, and we see the next profit targets (orange boxes) be hit. OR
2 - NEO hits the next resistance level, comes down and the green box is not held. In this case the second green box is likely to be tested.
Either way Profit can be made, and people who have already longed should be VERY profitable.
Don't FOMO from here. Wait and see what NEO decides to do. Have longs placed in the green boxes and a tight stop just below the range. Never enter mid range of a movement!