Making a case for NEO having upward price momentum. 50% profits!
NEO having upward price momentum
-We are currently in a descending wedge.
-We have class A bullish Divergence on the MACD Histogram and RSI
-It appears the we are about to begin wave 3 of 3. Wave two retraced to 61.8 fib level.
A good low risk buy trade is the bottom of the wedge at around
.0084ish sat.
Take profit at the 1.618 and 2.618 trend based fib extension levels.
The green boxes are take profit zones. Since this is wave 3 of 3 this should be a big one up to 2.618 levels.
This should give us a 50% profit.
The red dashed lines are areas of resistance.
Dont trade based on this idea do your own research. Trade based on your own research
This is only for educational purposes.
-Fournier
-We are currently in a descending wedge.
-We have class A bullish Divergence on the MACD Histogram and RSI
-It appears the we are about to begin wave 3 of 3. Wave two retraced to 61.8 fib level.
A good low risk buy trade is the bottom of the wedge at around
.0084ish sat.
Take profit at the 1.618 and 2.618 trend based fib extension levels.
The green boxes are take profit zones. Since this is wave 3 of 3 this should be a big one up to 2.618 levels.
This should give us a 50% profit.
The red dashed lines are areas of resistance.
Dont trade based on this idea do your own research. Trade based on your own research
This is only for educational purposes.
-Fournier
Comment:
Wave 2 still has not been invalidated. Its possible for wave 2 to retrace up to 100% of wave 1 but not more. I dont think there is much more room for further retracement of wave 2. Either way I think very soon we are going to see a break from the current trend. This bullish pattern that we are seeing is less reliable if the market becomes bearish so we need to keep our eye on bitcoin.