Trying to chart the NEO pump

10 Ağu 2017

Pretty tricky to make a chart for such a pump, but lets give it a try:

Based on Fibonacci, target for leg 3 would be the blue box where we are right now. If (a big IF) we retrace from here, it could go back to (4) for a next leg up.

All indicators show overbought and retrace possible (indicators are not leading for me, just a tool).

Don't get caught in the hype! Trade what you see, not what you think. Use proper risk management with these kind of pumps.....

If you like my ideas, give a like and check my others ;-)

Happy trading!

10 Ağu 2017

Not

quick update: it extended a bit further...exactly on the next fib level.
I'm detetcting a trend reversal pattern right now. Lets see

11 Ağu 2017

Not

The pump was too strong :-)
NEO went parabolic....Lets wait till it gets a bit more settled amd see if I can detect a pattern.

12 Ağu 2017

Not

New try ;-)
NEO broke out of the channel, retested that trendline and looks to me as it goes testing again. Currently I'm detecting a bullish pattern, depending on the strength we can see a further retrace to the blue box or a bounce from the trendline.
Watch priceaction near trendline, a strong bullish candle is a buy signal.