Spent some time with NEO tonight. I don't feel like this is a very strong impulse wave but a possible head and shoulders forming and I don't see enough evidence yet to confirm a strong and sustained upward trend. I think the top of this "right shoulder" will peak around .00808 to .00836 before we see a price reversal to around .0075 which is a key level resistance.
If we drop below .0075 I think we could see it plummet to around .0059 over the next few weeks, which was a previous strong support level.
I would need to see NEO get over .00923 to confirm a real move to blast off. That impluse move could bring us to around .01065 before correction or more with following impulse waves.
detailed coinigy chart with fibs and indicators
www.coinigy.com/s/i/59d8635399dcd/
I hope I am proven wrong! Could go either way. Been wanting to go to the moon for some time now.
If we drop below .0075 I think we could see it plummet to around .0059 over the next few weeks, which was a previous strong support level.
I would need to see NEO get over .00923 to confirm a real move to blast off. That impluse move could bring us to around .01065 before correction or more with following impulse waves.
detailed coinigy chart with fibs and indicators
www.coinigy.com/s/i/59d8635399dcd/
I hope I am proven wrong! Could go either way. Been wanting to go to the moon for some time now.
Trade active:
decided to take some profits at the top of the right shoulder. May consider another entry point for another trade after the reversal move.
Order cancelled:
fell just short of my sell order. that happened a lot faster than I thought it would.
got greedy and set it too high instead of at the bottom of the predicted range at .00808. lesson learned. Will maintain my position in NEO and watch for the next few days to see what he does.
got greedy and set it too high instead of at the bottom of the predicted range at .00808. lesson learned. Will maintain my position in NEO and watch for the next few days to see what he does.