Neo - Are you awake?
Neo Bounced out Of Consolidation on Volume - Looking for Follow through
Neo
LOL i opted not to really chart this one yesterday, silly me.
daily
Daily stochastic is in the midground and after forming a H&S pattern on the intraday time frames NEO had retraced to the 50 % fib mark. Todays candle stick is a higher low and we would be looking for that to maintain while breaking us into the 0.1's to start printing higher highs.
4 hour
The stochastic RSI looks primed to make a bullish move and swing into uptrend after NEO has done some consolidating.
1 hour
On the one hour time frame, price progression will become apparent if and when neo can tak back the pivot point, 0.10128 and Ideally break above the ichimoku cloud to cause what is known as a bullish twist.
5 Minute
As the move is happening now we look at the 5minute time frame for a little bit more clarity, this is a clear break above consolidation and now flaggin, which denotes a direction will be chosen soon. Volume is needed to confirm the bullish reversal of the recent downtrend cycle.
TRADE: Enter here and set sell stop at 0.0947 or 1-3% below entry depending on risk tolerance.
RISK TRADE: Enter Here and buy the dips - be willing to ride any volatility
Alternative: Wait for a clean break about 0.10128 with volume and set a stop which you will walk up with price progression.
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Trading Vs. Investing
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Weekly Overview
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bullish setups
Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing. Manage your own Risk - in other words you could lose it all and I could give a fuck.
Good article with details of diagrams.. I enjoyed it.
Keep up the good work :)
Thanks!
You have a blog posting that will benefit everyone. I believe thank you
thanks, it can, trading is always risky of course.
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Sorry For The Delay. My Servers Had A Hiccup For A Few Seconds Today. @binkley performed my audit and found that I had missed your post. Excellent post again by the way. Thanks for the hard work!
Interesting analysis. I may have to learn a little something from you :)
charts a bit old now, there was no follow through on this trade setup! Ill have a look again at it in a few days haha. Thanks for the comment, very much if this then that, else this with my charting.