NEO made a spike up yesterday, after this it was making a H&S drop back again, but it stayed above the neck (red) line. I have seen this many times already, this H&S gets turned into en bullish flag. So ideal if it drops to around 37,50 and to start buying from that point on. Target is around 42/43. You can put a short stop at 36,5 or at 35 where there is a strong suypport
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I am long at 37.6, it is looking good now. The breakout has to be with some volume.
This was my comment below to one of the members here:
Yes it is, it is a bit less strong than i had hoped, because it did not push right through 40. Now it seems to be making a bigger horizontal consilidation. It could still drop to around 37.5/38 again. However the target now if it breaks upwards the target is 42.5 and second is 45.
Perfect drop back and very good at 37.50. If it breaks out above 40, i expect 44 to get reached
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And the breakout is there with some volume, not 100% convincing but the start is there. It should stay above 39.5. Already a nice profit. I have put my stop around my entry level for a free trade :)
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That damn Bitcoin, if it would have waited a few hours with that big drop, NEO would have probably reached 44. It stayed above the 37.50 where i had moved my stop to, still looking strong. Lets see if this last pattern is a bearish flag or an upwards triangle.
@prettysickk, Neo break out and now bounce from triangle, so if i'm right its time to buy
botje11
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@prettysickk,
Yes it is, it is a bit less strong than i had hoped, because it did not push right through 40. Now it seems to be making a bigger horizontal consilidation. It could still drop to around 37.5/38 again. However the target now if it breaks upwards the target is 42.5 and second is 45
Abacolife
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Thankyou.
Can you put a stop and also a sell in case you cannot watch the market for the day
botje11
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@Abacolife,
Yes ofcourse you can, depends on if your exchange offers that option. It's called a stop order, or a stop limit order.
Abacolife
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@botje11, so im on bittrex. are you saying i can set the stop order as a conditional order and then the sell for profit order as a limit order?
botje11
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@Abacolife,
What i am saying is this: for example if you buy NEO at 37.50 and you want to take your profit at 42 and your loss at 35.
You can set:
limit sell at 42
limit stop at 35, with the stop at 35 and the limit sell at 34.50 (low enough to be sure it gets bought