NEO ascending triangle, bullish trade opportunity
Potential medium-long play for NEO
It's forming a nice ascending triangle pattern with resistance at Fib 0.5 (0.008493)
Once the next Elliot wave begins, I expect a breakout over the resistance on either wave 3 or 5.
If you're looking to enter after confirmation, enter around 0.008530, or a close above the resistance.
points of resistance after the breakout:
0.00831, a resistance formed from previous test or Fib 0.786(0.008867) whichever happens first
0.009145, a resistance formed from previous test
Target 0.009355
Take profits below the resistance points.
Stop loss below the entry would be safe
It's forming a nice ascending triangle pattern with resistance at Fib 0.5 (0.008493)
Once the next Elliot wave begins, I expect a breakout over the resistance on either wave 3 or 5.
If you're looking to enter after confirmation, enter around 0.008530, or a close above the resistance.
points of resistance after the breakout:
0.00831, a resistance formed from previous test or Fib 0.786(0.008867) whichever happens first
0.009145, a resistance formed from previous test
Target 0.009355
Take profits below the resistance points.
Stop loss below the entry would be safe
Comment:
Looks like NEO finally broke out, it's not too late to enter right now