ForecastCity
Long

There is a possibility for the beginning of an uptrend in NEOUSD

BITTREX:NEOUSD   NEO / U.S. Dollar
Technical analysis:
. NEO/Dollar is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (11.1856 to 8.4295). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (11.1856)
Ending of entry zone (8.4295)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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While it's broken and closed above the 200 day MA before and dipped back below recently, it's now looking likely to do the same for the 3rd day in a row, on pretty decent volume and with the 12, 26 and 50 MA in support.

To be clear, is this idea an update on your previous NEO idea, which was presumably also an update to the original idea of April? And do you see a return to your buy area? I guess a BTC dip would bring that, otherwise, seems like NEO's looking upwards?

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ForecastCity mattgarbutt
@mattgarbutt, Thanks for sharing your idea.
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I totally agree with your idea about the beginning of an uptrend in NEOUSD.
+1 Reply
@fxniki, Thanks for sharing your opinion.
+1 Reply
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