NEO/USD: Bearish Flag Time to Sell

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By Deya Hroob




  • NEO/USD is trading at a strong structure.

  • The price has been rejected from moving averages

  • The pair is trading in a bear flag


 The chart above displays a bearish flag pattern being created on the NEO/USD daily chart. You can also notice how NEO got rejected from 100-day EMA today.

 How to trade the bear flag pattern? 

 Traders have two options: You can short the pair at top of flag ( the upper line ) OR you can wait a breakout the lower line and short it.

This trade setup will be invalided if price penetrates the upper line.

 

Good luck!

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