rich_9999
Long

NEO/USDT - $170 Target

BINANCE:NEOUSDT   NEO / TetherUS
It looks like the next 24 hours will see money flood into the market.
I'm looking to trade NEO. One thing I'm keeping an eye on is a false breakout.
When C corrects down to D the focus should be on the market not breaking
the bottom trend line with any sort of significance.
Comment: Correction

When C corrects down to D the focus should be on the market not breaking
the bottom trend line with any sort of significance.

It should be when 3 corrects down to 4
Comment: https://s3.amazonaws.com/tradingview/sna...

Okay, So I made an error on the original post. I ignored a fundamental tennant of elliott wave theory.

Also as the chart has progressed it's behaving slightly differently to how I originally thought it might. I think I tried to make it a little to complicated.

Anyway it seems to be sticking within the confines of the pitchfork and I will be monitoring that for the time being.
Comment: A target of $160 was reached.

A broadening formation pattern appears to be forming/formed. I would expect a pretty dramatic sell off because of this.

This will either occur in the next hour or so. Or there will be one more wave which could take around 6 to 12 hours to form.

Either way keep an eye on it.

Comments

Invalid.
Wave 4 can't cross wave 1.
Reply
@jb71, Yep, nice spot. Thanks.
I'll update the chart.
Reply
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