Long
NEO big move coming soon.
We continue to see money flowing through the various crypto currencies like currents in the ocean.
NEO looks ready to surf the wave that we've already seen pass through
Bitcoin (to 8000, then pullback), BCH (to 2000+ then pullback), DASH (to 500+ and then pullback).
It's pressing up against the top trend line of this July to November
consolidation range. The rounded bottom (red) shows that bulls are
starting to gain momentum. If they can find enough strength to push price past that trend line and hold, then we should see a climb to at least the previous highs at around 50.
THE PLAY:
long over trend line and previous pivot high, let's call it 32
Target: old highs around 50
Stop: Under consolidation range, call it 23
Reward to Risk: 2 or 3:1
When we reach our target, we will take profits, and see how price reacts. If there is further consolidation, then it could lead to another entry.
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!! PM me with chart requests !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
NEO looks ready to surf the wave that we've already seen pass through
Bitcoin (to 8000, then pullback), BCH (to 2000+ then pullback), DASH (to 500+ and then pullback).
It's pressing up against the top trend line of this July to November
consolidation range. The rounded bottom (red) shows that bulls are
starting to gain momentum. If they can find enough strength to push price past that trend line and hold, then we should see a climb to at least the previous highs at around 50.
THE PLAY:
long over trend line and previous pivot high, let's call it 32
Target: old highs around 50
Stop: Under consolidation range, call it 23
Reward to Risk: 2 or 3:1
When we reach our target, we will take profits, and see how price reacts. If there is further consolidation, then it could lead to another entry.
======
!! PM me with chart requests !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.