NEO has recently shown a large movement in price to the upside and broken through the daily MA cloud. With the recent violent price move and a close above the cloud giving bullish sentiment, I am expecting NEO to retrace back down to the 4H MA cloud before making new local highs.
I will be waiting for a 4HR doji to form around the MA cloud before looking to enter positions.
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Making its way down:
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Price has moved into and back out of the 4H MA cloud, which is corresponding to the FAMA resistance on the daily chart. I will be watching for a reversal candle and momentum to the upside before entering positions.
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Opening up a few positions on the Bullish HA momentum candle that followed the Doji created on the MA cloud.
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Approaching stop which will be a close/momentum move into the MA cloud.