NEOUSD - Descending Triangle
Hi All,
Still no breakout on NEOUSD Symmetrical Triangle because of the volume still declining. Lets see if we can spot anything.
1. The pattern is now change to Descending Wedge. Previous breakout downside on Symmetrical Triangle is not counted due to lack of follwing sell volume and bounced back. this resulting Descending Triangle to form.
2. Just like other pattern, the volume is declining within the triangle. All we need is breakout to confirm price movement.
3. Descending Wedge is a continuation pattern, but some case it also can be a reversal pattern. Just monitor at the breakout and the volume, so you will be fine.
4. 2 price target for Bull or Bear breakout, This was calculated from the height of the triangle.
This TA is for Educational purpose and not a financial advice. If you are happy with my charts and would like to follow more in the future, feel free to follow my profiles.
Still no breakout on NEOUSD Symmetrical Triangle because of the volume still declining. Lets see if we can spot anything.
1. The pattern is now change to Descending Wedge. Previous breakout downside on Symmetrical Triangle is not counted due to lack of follwing sell volume and bounced back. this resulting Descending Triangle to form.
2. Just like other pattern, the volume is declining within the triangle. All we need is breakout to confirm price movement.
3. Descending Wedge is a continuation pattern, but some case it also can be a reversal pattern. Just monitor at the breakout and the volume, so you will be fine.
4. 2 price target for Bull or Bear breakout, This was calculated from the height of the triangle.
This TA is for Educational purpose and not a financial advice. If you are happy with my charts and would like to follow more in the future, feel free to follow my profiles.
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