Sunday, 5 April 2020

NEO Price Analysis: How to trade NEO Both Directions

By Deya Hroob

neo coin


NEO Daily Chart

. Neo is now at strong resistance.

. Neo is making higher lows. 

. Neo is at a decision point now.

nep price

 

 

NEO is currently trading below the moving averages. It's also forming an ascending triangle pattern.

Bulls need to break up $7.25 resistance level to resume the uptrend. Thus, if traders want to trade this, they should place a buy order just above this level. However, don't rush in the trade, we need a close candle above this level. A close candle on 4h chart is fine.

Our first target will be at $8.50( 50-day EMA) , thereafter $10 level.







In the down side,we would set a selling order below the slope of the higher lows. Remember again, we need a close candle below the trend line of the triangle pattern. Our selling target will be at $4.

 The point we are trying to make is that you should not be obsessed with which direction the price goes, but you should be ready for movement in EITHER direction.

                           Check more Trade Signals

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