NEO Has Formed Bullish Cypher On Day Chart | A Good Long Opportunity For NEO Traders

NEO Has Formed Bullish Cypher On Day Chart | A Good Long Opportunity For NEO Traders

By moon333 | moon333 | 7 Jan 2020


Price actions of 19th laargest cryptocurrency NEO with Bitcoin coin pair has formed bullish Cypher pattern and entered in bullish potential reversal zone.


Lets have a look on the NEO priceline's move:

After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.272 to 1.414 of A to X leg's Fibonacci projection and final (C to D) leg is retraced between 0.618 to 0.786 Fibonacci projection of X to D leg for a perfect bullish Cypher and then the price action is entered in potential reversal zone of this bullish Cypher pattern, Now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move.

tANLrdSY

 


I have used Fibonacci sequence to set the targets:

 

Buy between: 0.001213 to 0.001191 sats

Sell between: 0.001230 to 0.001272 sats


Regards,
Atif Akbar (moon333)

 

 

The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Cypher pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.


moon333
moon333

Hi, My name is Atif Akbar and I am trading charts author of all kind of assets


moon333
moon333

Hi my name is Atif Akbar and I am one of the top 3 authors of cryptocurrency trading charts as per tradingveiw I publish there with my username moon333 to verify you can visit: https://www.tradingview.com/markets/cryptocurrencies/ideas/ I also publish the charts of different other assets like forex, commodities, CFDs Stocks e.t.c. Here you will find perfect predictions on different trading assets.

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