Long
A trading opportunity to buy in NEOETH
Technical analysis:
. NEO/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 25.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.050000 to 0.047600). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.050000)
Ending of entry zone (0.047600)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.055200
TP2= @ 0.059000
TP3= @ 0.065000
TP4= @ 0.070000
TP5= @ 0.077300
TP6= @ 0.084000
TP7= @ 0.097000
TP8= @ 0.110000
TP9= @ 0.140000
TP10= Free
. NEO/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 25.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.050000 to 0.047600). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.050000)
Ending of entry zone (0.047600)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.055200
TP2= @ 0.059000
TP3= @ 0.065000
TP4= @ 0.070000
TP5= @ 0.077300
TP6= @ 0.084000
TP7= @ 0.097000
TP8= @ 0.110000
TP9= @ 0.140000
TP10= Free
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.