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retrorecall
Apr 16, 2018 7:18 PM

NEO ascending triangle, bullish trade opportunity 

NEO / BitcoinBinance

Description

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

Comment


Looks like NEO finally broke out, it's not too late to enter right now
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