NEO had a huge run lately and is looking bullish on the shorter time frames.
keep in mind that the higher timeframes are looking overextended so this trade has higher risk.
Much of this trade will also depend on bitcoin's next move.
Exponential moving averages have been acting as support on all timeframes.
*30m - 100EMA
*1H - 50EMA
*2H - 26EMA
*4H - 12EMA
*DAILY - 200EMA
*WEEKLY - 12EMA
Stop-loss is placed under these exponential supports with a RISK of 1.49%.
Take profit levels are 14% en 20% of the buy zone. We are looking for a break-out of the resistance zone into bullish action.
This trade could easily see more upside past these levels so feel free to keep a portion of your position for a higher profit.
I'll address those in a later post.
Happy trading and remember;
“There's a difference between knowing the path and walking the path.”
- MORPHEUS_RED
keep in mind that the higher timeframes are looking overextended so this trade has higher risk.
Much of this trade will also depend on bitcoin's next move.
Exponential moving averages have been acting as support on all timeframes.
*30m - 100EMA
*1H - 50EMA
*2H - 26EMA
*4H - 12EMA
*DAILY - 200EMA
*WEEKLY - 12EMA
Stop-loss is placed under these exponential supports with a RISK of 1.49%.
Take profit levels are 14% en 20% of the buy zone. We are looking for a break-out of the resistance zone into bullish action.
This trade could easily see more upside past these levels so feel free to keep a portion of your position for a higher profit.
I'll address those in a later post.
Happy trading and remember;
“There's a difference between knowing the path and walking the path.”
- MORPHEUS_RED