I am a fan of NEO but not for analysis, simply because there is not enough daily data yet.
However, a fellow trader asked me to take a look at this and on an Hourly Chart, I see a trade setup. R:R 4:1
Sean Vengan Professional Trader and Trading Educator
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Looking at the charts - I think next 12-24 hours will determine if we're aiming for the triple top, ideally if daily candle closes above $31. What do you think?
sirimport
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sean..... we hit $37 and now pull back is currently at $29.9 on NEO....any updates?
UnknownUnicorn1063189
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@sirimport, Well this is one of those trades where everything was going great but it changed.
With a trailing stop loss you would have achieved Break-Even and no loss.
Now we must reassess - time to stay out of NEO until we have an opinion.
sirimport
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@SEAN_VENGAN, ok thank you for the update...as always.... all your charts and ideas are much appreciated
yeders
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@SEAN_VENGAN, hi sean
thanks for your great trades.
this was unfortunate.
are you able to suggest some trailing SL/BE change on your set ups?
wym7230
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The stop lose just hit. Should we still set the target at around 39? It seems the red pulse ICO made some bearish trend to NEO.
DamonDavies
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Still think we are on course here Sean? NEO does not seem to have follow BTC's latest move upward?
Thanks for your ideas, they are very much appreciated.