NEOUSD, Potential Bear-Flag And H-S-Formation, Important Zones!

Hello,

Welcome to this analysis about NEOUSD, we are looking at the 4-hour timeframe perspectives, the recent events, the established formational structure, and what we should expect in the upcoming times. As I discovered NEOUSD is developing a very interesting formational structure here especially with two different formations forming that will be the origin for further volatilities. As when looking at my chart now we can watch there how NEOUSD developed this main ascending-channel-formation marked with the black boundaries, within this formation NEOUSD has the coherent wave-count with the waves A to C already completed and as NEOUSD now approaches this decisive resistance-cluster-zone marked in red in my chart this is likely to be the origin of a bearish pullback to the downside, it will be important then on how NEOUSD continues with this pullback because when it marks below the lower boundary of the ascending-channel this ascending-channel will be completed as a bear-flag and will lie ground for increased bearish pressure continuations. The second main formation NEOUSD is forming here is this massive head-and-shoulder-formation with the left shoulder and the head already finalized. After the bear-flag has been completed and NEOUSD moves on to breakout below the neckline this will also complete the right shoulder of the formation and therefore the whole head-and-shoulder-formation to activate further continuations and the main target-zone marked in blue in my chart from where the situation needs to be elevated anew and NEOUSD needs to show if it manages to reverse within this zone or just sets up for further bearish continuations.

In this manner, thank you for watching my analysis about NEOUSD and its two pivotal bearish formations with the levels to consider, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.