A Monster Matrix Structural Wave? | Master NEO Thread

NEO has been consolidating since the formation of its at $58 in August 2017. I am anticipating the following scenario to unfold over the next 3 to 6 months if we break the former ATH, although the pattern may catch on and we could breakout earlier. This will be my master NEO thread.

There are two approaches here. You can either try to catch the bottom on the smaller TFs at $31.10 or $20.85 (if we break down). Or you can fetch the breakout at $58.66.

Take some time to familiarize with my trading approach:
forextradingstrategies4u.com/123-forex-trading-strategy/

As always, I'll update this ideas with both long and short trades.

Cheers and GLWT!
-Erik

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Bottom?

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OK, so we broke support in the BTC chart, now this is the 0.11 fibo key resistance level. Above it we are very bullish, below it we are still finding ground.

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OK....so we have a full retrace on our hands... excellent :)
The 0.11 fibo is the next big support:

And the uptrend line is broken here... looking for the next one and the max consolidation at 0.11 fibo

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I don't think we will get to the alternative buy area in the USD chart, so watch the trend line for a buy. But we should kiss the alternative buy area in the BTC chart.

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Nice hook?

Watch for a selloff against BTC. We have a reversal pattern, but its not confirmed yet,

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We got the breakout!

Trade closed: target reached

We nearly kissed MID TP!
ANyway, we hit my target in the NEOBTC chart, so I'm out of this trade for now ;)

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Watch for further upside.

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Watch for breakdown

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Looks like NEO is breaking down. Old support is now resistance.

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Oh the fortunes we made ;)

Trader6127

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by Trader6127

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