NEO ascending triangle, bullish trade opportunity
Updated
Potential medium-long play for NEO
It's forming a nice ascending triangle pattern with resistance at Fib 0.5 (0.008493)
Once the next Elliot wave begins, I expect a breakout over the resistance on either wave 3 or 5.
If you're looking to enter after confirmation, enter around 0.008530, or a close above the resistance.
points of resistance after the breakout:
0.00831, a resistance formed from previous test or Fib 0.786(0.008867) whichever happens first
0.009145, a resistance formed from previous test
Target 0.009355
Take profits below the resistance points.
Stop loss below the entry would be safe
It's forming a nice ascending triangle pattern with resistance at Fib 0.5 (0.008493)
Once the next Elliot wave begins, I expect a breakout over the resistance on either wave 3 or 5.
If you're looking to enter after confirmation, enter around 0.008530, or a close above the resistance.
points of resistance after the breakout:
0.00831, a resistance formed from previous test or Fib 0.786(0.008867) whichever happens first
0.009145, a resistance formed from previous test
Target 0.009355
Take profits below the resistance points.
Stop loss below the entry would be safe
Note
Looks like NEO finally broke out, it's not too late to enter right now
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