NEOBTC - Reversion to the mean/Swing trade - Breakout - Long

A swing trade is presenting itself in NEO as the adaptive MA price has crossed over and price has pulled back to the support line. I will be watching for the breakout above the recent high to enter. I am thinking price will retrace as soon as it hits the marked resistance to form the longer time frame head and shoulders picture.

Kommentera:

This swing trade worked. Price has broken above the daily MA cloud which indicates a bullish sentiment. If price closes above the cloud today I would expect NEO to move further up before coming back down to bounce off the MA cloud for new highs.