CRYPTO of the week NEOUSD deceiving and new low
NEOUSD 1H ASIA UPDATE - 10/06/2018
Price pushed down below 51.66 and is heading for a double correction to 50.12-48.17 in confluence with 48.34-47.45 (equal leg area of cycle from 58.31 high overlaps with invalidation level 47.45). So alternate view was the right path chosen by the market (seen it coming as I mentioned NEOUSD was heavy for past few sessions but until the level is not broken, count cannot be changed.
Price already reached first equal leg area and should not bounced in at least a corrective 3 waves or to new highs.
Invalidation level to the upside in 1h is 47.45 and in 4h it is 44.16.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 04/06/2018-10/06/2018, I propose NEOUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Price pushed down below 51.66 and is heading for a double correction to 50.12-48.17 in confluence with 48.34-47.45 (equal leg area of cycle from 58.31 high overlaps with invalidation level 47.45). So alternate view was the right path chosen by the market (seen it coming as I mentioned NEOUSD was heavy for past few sessions but until the level is not broken, count cannot be changed.
Price already reached first equal leg area and should not bounced in at least a corrective 3 waves or to new highs.
Invalidation level to the upside in 1h is 47.45 and in 4h it is 44.16.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 04/06/2018-10/06/2018, I propose NEOUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
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