At first glance this NEO chart looks like consolidation with dwindling volume, however the QuantRsi and Heffae Cloud indicators paint a potential bullish scenario.
First there is the Daily cloud entry, which is a sign of bullish reversal. The inter-cloud paths still pose a threat of heavy resistance, but historically, high timeframe cloud entries like the one here can lead to bullish reversals more often than not.
Second, the QuantRsi has an inverted HnS chart pattern with a clear step above neckline. These QuantRsi chart patterns often lead price reversal.
Third, the QuantRsi trendline that forms a triangle of sorts has crossed, but without confirmation. The prior candles that did cross failed the re-test, as well as Sept 17th rejecting off the daily cloud.
I plan on buying a retest of the QuantRsi trend, with a stop below the daily cloud bottom.
This is a perfect storm for bullish reversal. First takeprofit / re-evaluation level is at the top of the daily cloud around .00103
Apologies for the botched title screenshot, the way TradingView handles chart preview for published ideas is abysmal
First there is the Daily cloud entry, which is a sign of bullish reversal. The inter-cloud paths still pose a threat of heavy resistance, but historically, high timeframe cloud entries like the one here can lead to bullish reversals more often than not.
Second, the QuantRsi has an inverted HnS chart pattern with a clear step above neckline. These QuantRsi chart patterns often lead price reversal.
Third, the QuantRsi trendline that forms a triangle of sorts has crossed, but without confirmation. The prior candles that did cross failed the re-test, as well as Sept 17th rejecting off the daily cloud.
I plan on buying a retest of the QuantRsi trend, with a stop below the daily cloud bottom.
This is a perfect storm for bullish reversal. First takeprofit / re-evaluation level is at the top of the daily cloud around .00103
Apologies for the botched title screenshot, the way TradingView handles chart preview for published ideas is abysmal
Note
So far so good, Looking for a retest in the circled areas to add on to this position. Note
HOW DO YOU LIKE DEM APPLES!!!!!Funny that this NEO pump seems isolated as far as the alts go, The break above the daily cloud makes me think this will have further continuation. I plan to take profit in small steps, but with the goal of adding back to original position at support retests.
Note
Pretty clear takeprofit zone here at Daily QRsi Trend resistance which is also at these key fib retracement levels:
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SNOW_CITY public chat room - Indicator Q&A
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Indicator access information
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tradingview.com/chat/
Indicator access information
pastebin.com/v8sp6Y3R
Related publications
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.