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Neousdlong

NEOUSD - Will it break the 1.618 Fib channel?After placing down this channel, I scrolled out to see and NEOUSD has never broken the 1.618 fib in this channel. That's bad. Nearly double topped on the RSI but 70 was not hit, but stable above the 0.618 retracement. Uptick on the RSI as of writing. I am currently in a long, hoping that it'll pop up above $120. As of writing, it looks like BTC is going to make a bear trap and holding out seems like the best option. No stop loss, waiting for the possible bear trap to pass to and I'll freeball the order close. I may keep some if BTC goes sideways and wait for a better sell order. Edit: OK. That was fast. Candle close in 25min for the real test.
BITFINEX:NEOUSDLong
by NeoButane
NEOUSD bulls not dead yet: Possible 7:1 risk/reward ratio tradeNEOUSD hit a high of ~$198.20 on Jan. 15, 2018 after which it sold off. Price action from the high at $198.20 to ~$63.62 (on Feb. 6, 2018) is a 3 wave (A-B-C) move. This implies price recovering or resuming from the low on Feb. 6 as an impulse move upwards or at least another 3w move upwards. The uptrend in price after the low on Feb, 6 2018 is rather another 3w move upwards rather than impulsive. I have labelled the move upwards from the low on Feb. 6 as a wave (A). Support is between $94.01 and $84.45 and is marked on the chart. If price hold in the region of Support as drawn on the chart, NEO could possible recover in what would be wave (C) to the $170 area where there is natural resistance. In addition, a 100% projection of w(C) based on w(A), which is an acceptable price projection based on Elliott waves gives a target of $169.31. This increases the chance that price might actually target the $170 area as we have 2 separate evidences for resistance to exist around the $170 area. This trade is valid if price does indeed hold the SUPPORT as marked on the chart. If price does hold, then the target should be $169. Assuming an IDEAL scenario that the market holds support, Risk = $94.01 - $84.45 = $9.56 Reward = $169 - $95 (assuming trade was entered at $95)= $74 Risk/reward ratio = 74/9.56 = ~7.7:1
BITFINEX:NEOUSDLong
by Coin_Analyst
$Neo Buy OpportunityThe price of NEO hit bottom of the channel twice and broke downtrend line which gives signal of price wanting to move further upwards. MACD supports upward movement. Buy target should be set above former support level at 38.5. If you are going to take this trade, it's important to remember to use stop-loss. Stop-loss should be set at 34 level. If the price does not reach our buy target and moves further downwards, then buy targets should be removed and wait for another buy opportunity. Trading information: Buy: Above 38.5 Long term target: 48, 55 (top of the channel) Stop-loss: 34 Things to remember: Always remember to use stop-loss. Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement. Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement! It's better to wait than to regret. This is important when you are doing long term investments! Knowledge behind of your trades gives you success, more often! Any questions or need help? Feel free to leave comments and feedback! Yarr!
BITFINEX:NEOUSDLong
by yarr
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