Looking at the NEOBTC chart we can see a medium term up trend and a recent down trend after a death cross which may have completed or be nearing completion at the support level at 0.012. We can see that it broke out from an earlier symmetrical triangle but did not complete its up cycle to .01577. NEO is oversold as can be seen by the RSI, expect a trend reversal.
I would buy in between .0127 and .0120
Target 1 - 0.157 (9th Feb).
Stop loss - 0.0109
WARNING - Still a risky trade in the current environment set stop loss
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Bugger it, I'm in at .0125
Found an inverse head and shoulders which further confirms the target of .0157
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NEO broke the symmetrical triangle with an uptrend. I was right to be slightly bullish. We have new support at 0.0120 and I see slow and steady growth progressing to our target of 0.0157.
Not a huge profit but given the market conditions at the time of the trade that I setup I will take it. Paritcularly when you consider almost everything else was going backwards against the $. Given the above I'm over the moon with this trade.
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Support still holding at 0.0120 despite the broader market crash. Relatively speaking it has held up well and could still make the target. Don't forget to set the stop loss at 0.0109
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The stop loss hasn't been triggered but NEO is still hanging in there and to be fair it has done better than most cryptos during the crash. Trade still active but the premise of the TA is out the window.
Đóng lệnh: dừng lỗ
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Stop loss was hit with the broader market crash. I'm going to close this idea and watch NEO closely and may create another idea for NEO
Im in at .0120, i think your predictions are fairly accurate.
j0nesy1977.mj
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@EireCrypto, Hope so. I nailed XRP and a few others on this bear run. Make sure you set a safe stop loss, the market is crazy.
j0nesy1977.mj
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Support still holding at 0.0120 despite the broader market crash. Relatively speaking it has held up well and could still make the target. Don't forget to set the stop loss at 0.0109
j0nesy1977.mj
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NEO broke the symmetrical triangle with an uptrend. I was right to be slightly bullish. We have new support at 0.0120 and I see slow and steady growth progressing to our target of 0.0157. Not a huge profit but given the market conditions at the time of the trade I setup I will take it. Paritcularly when you consider almost everything else was going backwards against the $.
j0nesy1977.mj
⋅
NEO broke the symmetrical triangle with an uptrend. I was right to be slightly bullish. We have new support at 0.0120 and I see slow and steady growth progressing to our target of 0.0157.