NEO's Two Pattern Probabilities that Can Extend Sideways Price Action

in neo •  2 years ago 

SUMMARY

NEO price action has not shown any signs yet of a trend reversal. However, the correction can be counted in a couple different ways. The below chart shows an ABC with the subwaves of C almost in place with wave 5 currently in progress. Does this assure a correction bottom? Unfortunately, no; primarily because the tendency to sideways extend can't be underestimated.

The second pattern is one that would allow a few more weeks of time and price extension. The ABCDE triangle fits well into allowing a good amount more of sideways action. The MACD is also looking oversold but likely to follow the up and down of the upcoming waves X and Z.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Check this game out, look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game has passed the crypto kitties game on the Dapp Radar. The smart contract is coded to tax 10% of the ETH. when users purchase the (P)roof (O)f (W)eak (H)ands tokens and divides the ETH. tax to people who are already holding and also 10% of when users sell “20% total”. The name of the game is to hold as long as you can while you get earnings from the constantly taxed “Strong hand” buys and the taxed “weak hand” sells. If you don’t want to play anymore, you can pull out all your earnings all at once but with a 10% tax fee that gets divided to the stronger hands. This is what the ERC-20 smart contract is programed to do. Doesn’t hurt to look at the contracts open source code at least, don’t let the opportunity pass you by.
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e

You're FOMOing and it's a ponzi but i will take a look ...

Loading...
Loading...

HaejinPost7.png

Thanks Haejin, NEO has always been on my list of Alt coins to buy but I've never owned it, perhaps I'll keep an eye on this correction

What do you think about this analysis?
DQmRcdqD4DhyMkb5hwHcWaUNT73m39x7ZzbyJspjV19hGE5_1680x8400.png

Read this post while drink a glass of cooffe in this morning.
No coffe no steemit

You should stop drinking coffee!!!

I can't stop drinking coffee because I smoke friend.

thanks, happy today

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 114.23 SBD, based on the pending payout at the time the data was extracted.

If you do not wish to receive these messages in future, reply with the word "stop".

Congratulations @haejin, this post is the seventh most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 43 and the total pending payments to posts in these categories was $1795.77. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

  ·  2 years ago Reveal Comment

Profits.gif