(MATRIX) Agent Smith: I'm going to enjoy watching you die, NEO
Updated
Technicals: NEO has been stuck in an ABCDE triangle correction for the past month. But the recent price action does not inspire confidence that we will be going up for that Wave E. I would have preferred to see the reversal that we saw at Wave B. Eventually support will have to give way.
From Elliot Wave stand point, Wave D has a high probability of a breakdown. This kind of correction is usually found in a Wave 4 so we can safely come to the conclusion that we are in a larger Wave 4 correction. So far, odds of us breaking down are higher than up.
Instead of guessing which way we will get a breakout I've put in high confidence entry points for long and short trades. These entry points are not for high leverage traders since the Stop Loss points of invalidation have a high loss ratio.
Time for some theatrics, we are at the point where Agent Smith has shot NEO and his heart has stopped. Now we must wait and watch if in our alternate universe whether the heart starts beating again and whether NEO is able to destroy Agent Smith (Bears)
Now before you jump to conclusions about how I'm delusional and how I'm a perma-bear, lets see my NEO history.
Target Hit
Target Hit
In Progress
Okay so what now? We wait and watch. This triangle is a no trade zone. Wave E is not worth the risk.
Godspeed
________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
From Elliot Wave stand point, Wave D has a high probability of a breakdown. This kind of correction is usually found in a Wave 4 so we can safely come to the conclusion that we are in a larger Wave 4 correction. So far, odds of us breaking down are higher than up.
Instead of guessing which way we will get a breakout I've put in high confidence entry points for long and short trades. These entry points are not for high leverage traders since the Stop Loss points of invalidation have a high loss ratio.
Time for some theatrics, we are at the point where Agent Smith has shot NEO and his heart has stopped. Now we must wait and watch if in our alternate universe whether the heart starts beating again and whether NEO is able to destroy Agent Smith (Bears)
Now before you jump to conclusions about how I'm delusional and how I'm a perma-bear, lets see my NEO history.
Target Hit
Target Hit
In Progress
Okay so what now? We wait and watch. This triangle is a no trade zone. Wave E is not worth the risk.
Godspeed
________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
Note
I wish I had something positive to say about NEO.Breached the support line thrice so far and managed to come back up. How long will it be able to keep that up?
Don't FOMO and try to predict the direction
Trade active
Related publications
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.