NEO / BTC Scalp potential
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Good morning traders,
Hope everyone is doing well this morning, we had an unexpected move from BTC, let's see how it handles that trendline.
This morning I'm looking into NEO, which has the potential for a continuation, and a possible wave 3 movement.
Key Notes:
1) We've currently retraced a little over 38.2%, generally wave 2's retrace 50-85.4%.
2) I have entered into a position at 7967, I am looking to see how 8224 reacts, if it manages to break through easily, this would be excellent bullish confirmation. Conservative traders should enter here, and potential profit taking should take place here.
3) If this is indeed a wave 3, we could see rejection @ 8224, where I would then look to lock in profits. This would then send us into a deeper correction towards the 50% fib I would imagine, with a better buying opportunity.
Targets:
1) 1.618 at 0.009009
2) 2.618 at 0.011816
Stop:
1) Tight stop at 7850 should be taken as it implies further downside (without 8224 re-test) to the 50-85.4% fibs.
As always if you find this information helpful, please support me by hitting the like and follow button!
Hope everyone is doing well this morning, we had an unexpected move from BTC, let's see how it handles that trendline.
This morning I'm looking into NEO, which has the potential for a continuation, and a possible wave 3 movement.
Key Notes:
1) We've currently retraced a little over 38.2%, generally wave 2's retrace 50-85.4%.
2) I have entered into a position at 7967, I am looking to see how 8224 reacts, if it manages to break through easily, this would be excellent bullish confirmation. Conservative traders should enter here, and potential profit taking should take place here.
3) If this is indeed a wave 3, we could see rejection @ 8224, where I would then look to lock in profits. This would then send us into a deeper correction towards the 50% fib I would imagine, with a better buying opportunity.
Targets:
1) 1.618 at 0.009009
2) 2.618 at 0.011816
Stop:
1) Tight stop at 7850 should be taken as it implies further downside (without 8224 re-test) to the 50-85.4% fibs.
As always if you find this information helpful, please support me by hitting the like and follow button!
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Closed for a 8% profit, going to bed and unsure of what BTC is about to do.Nota
Also just keep in mind there is a cup and handle forming on the 15 minute, pretty picture perfect, with a target towards 8900 (close to the 1.618 initial target), if you can monitor this trade, it may be worthwhile to stay in.
If you find my information helpful, please return the favor and hit the like and follow button, it's very encouraging and keeps me motivated!
Twitter: twitter.com/Jedi_ant
Twitter: twitter.com/Jedi_ant
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