Do you want free steak? Let $NEO lead you! - Day Trader Explains
Hello Lads and ladies, welcome back to TJs' Trade Corner!!!
Today we will be focusing on one of my favorite coin to trade.
NEO is a huge sleeper since months and it is about to end its bottoming process. Let's see what speaks for it and what against it.
First we take a look at the structure and we see that NEO has been going and trending down for a very long time. Having its actual Bottom in December at 1700 sats, which I have pointed out then as well. We have been in a small uptrend, yet we have a strong catalisator at this moment playing us right into the hands. We are approaching a very very important resistance. This resistance is pointed out in the chart as the green dotted line.
Nevertheless, we have to break 2800 sats before approching that resistance, yet since my phone exploded after getting the confirmation I needed, i am posting it already here.
The indication is on the 3-Day chart, having FINALLY again a significant buy volume (check out my YT video to see how to use the volume inidicator correctly). Last time we had such significant volume, was on Janury 7th. Now, what is it with the significant volume before a significant resistance? Well, let me give you a hint.. BTC $1000 candle..
Whenever we have significant volume on the 3-Day Chart before a resistance, expect it to break very soon!!!
Next indication is the TJ Stoch, one of my own indicators also one of my favorites. It is based on the Stoch and Stoch RSI. Modified, so you clearly see cross downs and cross overs. Currently, we see exactly a crossover at EXACTLY the 40p line, where this combination is known for its impulse moves.
The Money-Flow is as well spiking and above the 0 line. I would like to see the Money-Flow spike more and create a nice green cloud, yet I expect that whenever the resistance is broken.
Now, let's get to something more mathematical and more reliable than anything else in this market. Fibonacci.
If we apply the Fibonacci Tool at the very top and the very bottom(which we have now pretty much confirmed), we can see very clearly that funnily enough the 61.8% retrace lies at exactly 0.01BTC .
Technicals of the Fib Tool: whenever the 61.8% breaks, the trend is over. Hence, the 61.8% is a very strong line to be tested.
This means for us: The downtrend would break at 0.01BTC and above. Hence, we have a very high chance to test this line over the course of the next months.
Take Profits at the previously shown structure points and horizontals.
DO NOT FORGET A STOP LOSS.
This trade has been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.
Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.
Like and Follow me and you will find the space interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
Cheers TJ
Today we will be focusing on one of my favorite coin to trade.
NEO is a huge sleeper since months and it is about to end its bottoming process. Let's see what speaks for it and what against it.
First we take a look at the structure and we see that NEO has been going and trending down for a very long time. Having its actual Bottom in December at 1700 sats, which I have pointed out then as well. We have been in a small uptrend, yet we have a strong catalisator at this moment playing us right into the hands. We are approaching a very very important resistance. This resistance is pointed out in the chart as the green dotted line.
Nevertheless, we have to break 2800 sats before approching that resistance, yet since my phone exploded after getting the confirmation I needed, i am posting it already here.
The indication is on the 3-Day chart, having FINALLY again a significant buy volume (check out my YT video to see how to use the volume inidicator correctly). Last time we had such significant volume, was on Janury 7th. Now, what is it with the significant volume before a significant resistance? Well, let me give you a hint.. BTC $1000 candle..
Whenever we have significant volume on the 3-Day Chart before a resistance, expect it to break very soon!!!
Next indication is the TJ Stoch, one of my own indicators also one of my favorites. It is based on the Stoch and Stoch RSI. Modified, so you clearly see cross downs and cross overs. Currently, we see exactly a crossover at EXACTLY the 40p line, where this combination is known for its impulse moves.
The Money-Flow is as well spiking and above the 0 line. I would like to see the Money-Flow spike more and create a nice green cloud, yet I expect that whenever the resistance is broken.
Now, let's get to something more mathematical and more reliable than anything else in this market. Fibonacci.
If we apply the Fibonacci Tool at the very top and the very bottom(which we have now pretty much confirmed), we can see very clearly that funnily enough the 61.8% retrace lies at exactly 0.01BTC .
Technicals of the Fib Tool: whenever the 61.8% breaks, the trend is over. Hence, the 61.8% is a very strong line to be tested.
This means for us: The downtrend would break at 0.01BTC and above. Hence, we have a very high chance to test this line over the course of the next months.
Take Profits at the previously shown structure points and horizontals.
DO NOT FORGET A STOP LOSS.
This trade has been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.
Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.
Like and Follow me and you will find the space interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
Cheers TJ
Get access to the MyAlgo Indicator:
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mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
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