Friends who follow me requested that I do a proper analysis on NEO against USD so here we are. A buy opportunity has presented itself at the level as indicated on the chart. This would be a good level to open a NEO trade for the long term. The tendency for price to retrace upward from here is very high. This pro trade is aimed at maximizing profit over a short term basis and does not represent the full upside potential of NEO.
Trade Entry: $35 +/- $0.5
ST Trade Exit: $52 +/- $0.5
Stop Loss: $34
Good luck, my friends! Happy Trading!
Trade Entry: $35 +/- $0.5
ST Trade Exit: $52 +/- $0.5
Stop Loss: $34
Good luck, my friends! Happy Trading!
Comment:
If Stop Loss at $34 is triggered, we may have the rare opportunity to buy back at lower levels, as indicated in the updated chart below.
Comment:
Price is holding around our original trade entry zone (35 +/- 0.5) which is a good entry price for long term trade. We can consider adding more If price does come down our lower trade entry zone (30.65 +/- 1.15).
NEO's price drop correlates with the pullback we are seeing on Bitcoin which may extend down to new demand zone at lower 6400 before breaking to new higher highs.
NEO's price drop correlates with the pullback we are seeing on Bitcoin which may extend down to new demand zone at lower 6400 before breaking to new higher highs.
Comment:
My friends, we are very close to our lower Trade Entry zone. At the same time, Bitcoin has reached a fortified support wall around lower $6400 where I anticipate that price will very soon catapult to above $7k. Just keeping you guys updated, that's all. Make your own decisions and due diligence.
Comment:
Price fell short of our lower trade entry range, which is in reversal zone. It is best to wait for price to drift into range before entering the trade. Remember, a sharp decline in price often leads to a strong bounce/reversal.
Comment:
NEO may have one more leg down before going north. The good news is that will bring price down to our lower entry level. I have here an updated analysis on NEO. The more I look at NEO's chart, the more upside potential I see in it in months to come. By end of this year, we will be drooling over the trade entry levels that we got in. Just my humble opinion.
Trade closed: stop reached:
Refer to my latest NEO chart.
