NEO Wedge is Falling Down, Falling Down

It looks like the 0.0078 zone is the place to be. It's a major resistance, there's a falling wedge converging there, and a head & shoulders price movement completing there...so, something is going to happen, but what? If the falling wedge is the correct pattern, that signifies, in most cases, a breakout upward. I think this is the most likely scenario. RSI and MACD will confirm, but look for bullish candles and volume.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

تعليق:

Here's a quick update. It broke upward and is forming an uptrend, but hit resistance at the MA100 level, which lines up with the neckline of the earlier head & shoulders formation. Once/If this breaks, it should move quite a bit. As you'll see, there are many support lines/zones, which should keep any drops slow.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

تعليق:

BTC soaring right now is not conducive to NEO's upward movement. When BTC cools off, expect NEO to get a little momentum back.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

تعليق:

Had a nice run, and can take profits. The green trend line is providing good resistance. Look for a retrace to the 618 or 500 FIB of the last 2.5 hour run to regroup. It will give a buy opportunity on the rebound. Watch for fake-outs.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

أغلقت الصفقة: تم الوصول للهدف:

Target hit! Place next buy above 0.0120.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

تعليق:

Look for 0.0137 to 0.0140 target to grab profits.
... but what do I know, I'm just a space suit engineer, not a trader.
Good luck!

تعليق:

Second price target hit! It's following the original track and making some inside trades on the way. Wait for a bounce off the lower channel trend line and place a buy.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!