dRends35

EGLD - Bullish C Wave Breakout

Long
dRends35 Updated   
BINANCE:EGLDUSDT   EGLD / TetherUS
As requested

EGLD has had quite a bounce today and has broken out into impulsive wave up. It looks like this will be at least a 1:1 C wave to take price up to around $135 - $140 area where it will also find the 0.618 fib retracement from the top to bottom.

Not advice.
Comment:
Break-out

Comment:
These ALT trades only work for as long as Bitcoin is supportive and Bitcoin is looking bearish right here.

Another look at EGLD on the 3D chart price is forming a wicked candle through the 0.618 so good chance the correction will be a regular ABC flat.

Ofc price could recover, but its not good RR for me.

This trade idea is closed.
Comment:
Comment:
EGLD moving up and so will probably hit original target with BTC bouncing. Its not a trade I like much though. There will be better trades than this down the road.
Comment:
Target hit and C wave complete.

I'm somewhat quiet on TView for now but you can find me pumping content every day in my Telegram Trading Group 🧐

Part 1 of weekend video 25/5 now uploaded to the group😼.

$50 per month 👍🏻.

Contact: t.me/dRends35
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.