TheTradersCorner
Long

$NEOUSD 4H UPDATE - 14/03/2018

BITFINEX:NEOUSD   NEO / U.S. Dollar
NEOUSD has completed a daily correction from 16/01/2018 jigh at 63.62 and has recovered in a 3 waves bounce to 141.16. From there, a FLAT rejected NEOUSD to 78.92 where the cycle from 20/02/2018 ended. Since then, the altcoin is under pressure as moves to the upside are in 3 waves in smaller time frame.
As long as above 78.92, preferred view is NEOUSD is to regain the 100.00 mark and continue higher to challenge 146.12. Bounce in first 3 waves failing to gain momentum could see a break of 78.92 for a direct retest of 63.63 and most likely break below as this would mean a bearish sequence in daily.
Comment: NEOUSD broke below 78.92 and cycle from 146.12 high is still alive. As mentioned on the chart, buying FLAT always tricky. 63.62, line in the sand
Trade closed: stop reached: technically still above 63.62 but situation becomes unsustainable for 4h setup. If we are in daily we just hold what we bought at 64.83 as per chart.
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