NEO - backtest neckline, looking for break above on volume
BTC weakness is driving Alts
4 hour timeframe notice the curled stochastic RSI and increasing volume. Backtest of H&S neckline coming. then direction is chosen.
Edited: Adding 1 hour time frame snapshot.
1 hour time frame - note the coild up Stochastic RSI and big volume relative
Watch for continuation of volume, notice resistance is the 170 day moving average.
Trade: Wait for break back above neckline take position and set stop at 30ema 4hour
Risk Trade: Enter here and set loose stop 2-3 % - note there is some volatility.
Alternative: Wait for consolidation above neckline and more volume to trigger a move, scalp a run.
Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing. Manage your own Risk - in other words you could lose it all and I could give a fuck.
