- On the daily chart we can see a massive falling wedge – bullish reversal pattern!
- Also we have a second local blue falling wedge , so the probability of a successful trade is higher.
- If we take a look at the RSI indicator we can spot a bullish divergence with higher lows, definitely another positive sign.
- Regarding my analysis of Elliott waves , the major impulse (5-3-5-3-5) has been definitely completed successfully!
- We have a great confluence to open a long position here.
- https://www.tradingview.com/chart/NEOUSDT/fl79gThw-NEO-New-uptrend-Huge-falling-wedge-is-breaking-out-RSI-DIV/
NEO – New uptrend! Huge falling wedge is breaking out! + RSI DIV
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Tolberti
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.