NEO/USD - correction expanding -switching to neutral short-term
Updated
I had to change the overall labeling, due to the very insufficient history data on that pair.
The labeling of the December upside breakout can not yet be labelled in a decent way.
Nonetheless the actual corrective patterns can be labelled and do show imho , that the
EoD-plunge (End of December-plunge) still needs some mumbling away after the impulsive upmoves /
fuel injection of the CC-market that led to the massive and broad SoD-Rise(Start of December-Rise).
On the short term : long and short, wave riding, surfing the corrective waves, enfolding here.
No impulsive breakout on the long side expected yet, to continue the long-term uptrend,
waiting till the correction can be labelled complete.
on the middle term outlook: catch the EoD-plunge corresponding C wave down after evaluating
the price-action at the marked market supply zone in red
the position trading site of the Cryptos: hybernation mode for now in NEO/USD .
switch to neutral to either await the C wave down for a short or grab the chance
to long this pair ,at the end of the C Wave to switch into the expected second up-leg , reviving the SoD-Rise.
overall outlook long-term: positive/long
I would suggest this labelled triangeling corrective waves, needing a second leg on the downside in an C
wave corresponding to the EoD-plunge A before being ready to start another major upleg somewhere in beg./mid. January.
The labeling of the December upside breakout can not yet be labelled in a decent way.
Nonetheless the actual corrective patterns can be labelled and do show imho , that the
EoD-plunge (End of December-plunge) still needs some mumbling away after the impulsive upmoves /
fuel injection of the CC-market that led to the massive and broad SoD-Rise(Start of December-Rise).
On the short term : long and short, wave riding, surfing the corrective waves, enfolding here.
No impulsive breakout on the long side expected yet, to continue the long-term uptrend,
waiting till the correction can be labelled complete.
on the middle term outlook: catch the EoD-plunge corresponding C wave down after evaluating
the price-action at the marked market supply zone in red
the position trading site of the Cryptos: hybernation mode for now in NEO/USD .
switch to neutral to either await the C wave down for a short or grab the chance
to long this pair ,at the end of the C Wave to switch into the expected second up-leg , reviving the SoD-Rise.
overall outlook long-term: positive/long
I would suggest this labelled triangeling corrective waves, needing a second leg on the downside in an C
wave corresponding to the EoD-plunge A before being ready to start another major upleg somewhere in beg./mid. January.
Note
yes, looks alright, going steeper north now, gaining momentum...
Do not forget to take the SL on secondary lows with you...
Trade active
lokks promising...red is the zone to TPTrade active
either reacting north here ore SL will be hit at 60.80 below the last highs..., looks we are not heading for an intime up...TP-Zone not reached...
all Cryptos suffering from UP-weakness, though NEO along- DASH is among the strongest...
Trade closed: target reached
That was a winning baby...the TP zone could be reached...See You next time NEO...
hand me the number of that telephone cabin, so I may ask you to go kissing the sky again for us...Thank You...
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