NEO breaking into new trends?
Hey All,
I've been trying to educate myself on TA charts more and more as the market is starting to get back onto it's legs. I posted a week or so ago about NEO breaking out but I think all beginners should be trying to look at the big picture so I brought it back out to the day candle sticks.
As you can see yesterday NEO was still within the downtrend channel and I thought we where at the top of the channel and would be making our way back down. But waking up this morning I can see it clearly broke through but not by that much! I think in the coming days we will either see a new channel start to be formed on the upside of a continuation of the downtrends.
Remember that just because it broke out doesn't mean anything yet! I wouldn't recommend a trade until we get some clear confirmation that the trend is going to the upside.
If you see any people posting just straight arrows up on NEO charts be wary.
As always I'm just a farmer, not a financial adviser!
I do TA charts to add to the community and also make myself $$.
I've been trying to educate myself on TA charts more and more as the market is starting to get back onto it's legs. I posted a week or so ago about NEO breaking out but I think all beginners should be trying to look at the big picture so I brought it back out to the day candle sticks.
As you can see yesterday NEO was still within the downtrend channel and I thought we where at the top of the channel and would be making our way back down. But waking up this morning I can see it clearly broke through but not by that much! I think in the coming days we will either see a new channel start to be formed on the upside of a continuation of the downtrends.
Remember that just because it broke out doesn't mean anything yet! I wouldn't recommend a trade until we get some clear confirmation that the trend is going to the upside.
If you see any people posting just straight arrows up on NEO charts be wary.
As always I'm just a farmer, not a financial adviser!
I do TA charts to add to the community and also make myself $$.
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