Long

Pennant forming: NEO breakout

Updated

Neo will breakout soon, it double bottomed. Will test resistance that coincides with fibonacci retracement, likely pull back after that. Perhaps it will bounce back up to reach target 2.

Note

Forgot to add: in case the market turns really really bearish and the support line breaks: 0.002 is the next supportline. Stoploss around 0.003 for safety.

Note

We're on the verge of it bouncing off support or crashing through. Very curious what this candle will do.

Note

Stop loss at 0.0025 in case support breaks. Buy upon 1 candlestick confirmation that it bounces off support.

Note

Support broke. Buy opportunity at 0.002 soon.

Note

It indeed hit 0.002, then broke out of pennant upwards, bounced off 0.382 fibbonacci. Now it will likely go to 0.236 until it can go to 0.618

Note

Close to hit 0.0084. Expect pullback before it attempts to go to the 2nd target.

Note

If it closes above 0.0084, strap yourselves in for 0.0114.

Trade active

TARGET REACHED, I did it guys! It may move to next target if candle closes above 0.012

Trade active

It's going for 0.014, which is the next target. Since it's really overbought now, I expect a pullback to 0.0114 before it may continue to climb again.

Note

THIRD TARGET REACHED. Expect pullback: overbought.

Woolhead

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.