Neo is fast approaching that short term down trend and the blue resistance/support line that was drawn in.
It can either choose to follow that downtrend or make a small breakout through it and maybe retest the upper resistance (red line)
for a possible 12% gain but more likely a 3 - 7% retracment at newly formed resistance in the last week.
A possible fall through, would most likely see it to continue to go sideways or test new support at a 5% loss.
Still a risky trade for a possible 3-7% short term profit, dont go to bed without a tight stoploss however.
Disclaimer - these are just ideas based on what I can see. The market is extremely volatile so please make sure to
do your own research and be careful with any trades you make.
It can either choose to follow that downtrend or make a small breakout through it and maybe retest the upper resistance (red line)
for a possible 12% gain but more likely a 3 - 7% retracment at newly formed resistance in the last week.
A possible fall through, would most likely see it to continue to go sideways or test new support at a 5% loss.
Still a risky trade for a possible 3-7% short term profit, dont go to bed without a tight stoploss however.
Disclaimer - these are just ideas based on what I can see. The market is extremely volatile so please make sure to
do your own research and be careful with any trades you make.
