Hello friends, traders, everyone!
TGH Member request...
Alt coins can be tricky, but I don't mind trying my hand at some of the more popular ones.
For NEO here, with a solid following, could produce a good opportunity to buy.
I would like for now, to see it stay within the blue triangle. Right now, the bottom of this area needs to be confirmed as support. Then, we can look towards breaking speedfan resistance.
Keep in mind that, this will be the first MAJOR resistance NEO will encounter since the great capitulation.
Generally, I am not a big fan of 38.2% retrace, but this COULD THEORETICALLY mean NEO is in a strong uptrend.
(That is the textbook meaning of a 38% retrace in this situation)
Keep an eye on it here, look for dips within the blue triangle, and a breakout buy in the green box. Your best bet would be a trailing stop loss.
Good luck, traders!
TGH Member request...
Alt coins can be tricky, but I don't mind trying my hand at some of the more popular ones.
For NEO here, with a solid following, could produce a good opportunity to buy.
I would like for now, to see it stay within the blue triangle. Right now, the bottom of this area needs to be confirmed as support. Then, we can look towards breaking speedfan resistance.
Keep in mind that, this will be the first MAJOR resistance NEO will encounter since the great capitulation.
Generally, I am not a big fan of 38.2% retrace, but this COULD THEORETICALLY mean NEO is in a strong uptrend.
(That is the textbook meaning of a 38% retrace in this situation)
Keep an eye on it here, look for dips within the blue triangle, and a breakout buy in the green box. Your best bet would be a trailing stop loss.
Good luck, traders!
However, luckily we don't rely on just that, and other fib tools seem to be responding here = )