Let them chinese make us some cash :)
Updated
Last week I posted #hypeoftheweekend with Bitcoin Gold. That idea gave me a nice profit off almost 100%. This weekend my eyes are on NEO and China!
I expect the same result :) Buying at 37 USD, selling at 88USD for a profit of 138%.
Fundamental
On 21.Nov the "Blockchains in Fintech" event goes off and we have NEO founder Da Hongfei as top speaker.
NEO is also trying to hype up the event beforehand: twitter.com/MalcolmLerider/status/931521977839505408
If this will be a repeat of the SWELL conference with Ripple, time will telll, but I feel that risk/reward is good enough to enter this trade.
The chinese goverments eyes is on crypto, and that may turn into incredible news for NEO.
The chinese are still very important in cryptocurrency, and NEO should be in your portfolio for the long term.
Technical
I expect to hit the 1.618 fib and complete an Elliot Wave within the channel in my pitchfork, depending on what we get out of the conference obviously.
When you trade you need to be open to everything can happen, and adjust your mindset when things do happen. But at this moment I believe what I have drawn will unfold. Time will show, and I'll try to update this along the way.
If this trade goes the wrong way, I am looking at that trendline. If it breaks, I am getting out.
Numbers
I expect the same result :) Buying at 37 USD, selling at 88USD for a profit of 138%.
Fundamental
On 21.Nov the "Blockchains in Fintech" event goes off and we have NEO founder Da Hongfei as top speaker.
NEO is also trying to hype up the event beforehand: twitter.com/MalcolmLerider/status/931521977839505408
If this will be a repeat of the SWELL conference with Ripple, time will telll, but I feel that risk/reward is good enough to enter this trade.
The chinese goverments eyes is on crypto, and that may turn into incredible news for NEO.
The chinese are still very important in cryptocurrency, and NEO should be in your portfolio for the long term.
Technical
I expect to hit the 1.618 fib and complete an Elliot Wave within the channel in my pitchfork, depending on what we get out of the conference obviously.
When you trade you need to be open to everything can happen, and adjust your mindset when things do happen. But at this moment I believe what I have drawn will unfold. Time will show, and I'll try to update this along the way.
If this trade goes the wrong way, I am looking at that trendline. If it breaks, I am getting out.
Numbers
Buy: 37USD- First Sell: 88USD
- Second Sell: 139USD
- Stop Loss: Below Trendline
Note
Well.. We didnt get any huge news from the conference.But that was always more likely.
Position is still in green, and NEO is definitely something that should have a place in your crypto portfolio.
I am still holding this position and will only get out if the trendline breaks.
Note
Giving that trendline a go today when market is correcting.Probably wont hold but NEO is a good one long term so I am just going to hold on to it, as I am mainly in cash and out of most coins today.
Trade closed: target reached
Forgot to update this! But as seen on my spreadsheet, I closed this trade at 74 USD. Up 100% exactly :)
Please read my blog post "Kryptokelly's Plans for 2018".
To get updated on what I am doing :)
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.