I am looking to build a position in EOS, looking for a large run up in alt season. At the moment,
it is somewhat unclear and somewhat risky but showing some signs of reversal. The massive sell
volume candle on the daily shows that there are buyers in the market, because it did not force the
price below support, as shown in a recently posted chart.
I would like to build a position in EOS as it is going up, adding onto my position little by little
on bounce opportunities. I have allocated an amount of funds for this long term trade. I have entered
into 10% of my max position at the current level, and I am trading on 10X margin on Binance EOSBTC pair.
I will also sell off some as it make spikes, and buy back in at lower points.
When I do sell, I will sell no more than 20% of my total position. I would like to be 50% in at some point
below the 0.786 zone, and go from there, possibly adding on the rest below the 0.618, and maybe the 0.50.
Major point of interest are the fibonacci levels from the previous move, which have shown a fair
amount of significance. Other points of interest have been marked with yellow lines.
More can be drawn above the 0.618 and will be added if the price gets to that point.
Trading strategy: Use fib levels of smaller moves, paired with minor and major S/R levels to find good
entry points for more of the position as EOS rises. More to come later.
This 10% that has been bought already will be held even if EOS breaks its current support, up to a 25%
decrease in spot price.
This is a long term trade that I intend to build over weeks and months. I will keep this chart updated.
it is somewhat unclear and somewhat risky but showing some signs of reversal. The massive sell
volume candle on the daily shows that there are buyers in the market, because it did not force the
price below support, as shown in a recently posted chart.
I would like to build a position in EOS as it is going up, adding onto my position little by little
on bounce opportunities. I have allocated an amount of funds for this long term trade. I have entered
into 10% of my max position at the current level, and I am trading on 10X margin on Binance EOSBTC pair.
I will also sell off some as it make spikes, and buy back in at lower points.
When I do sell, I will sell no more than 20% of my total position. I would like to be 50% in at some point
below the 0.786 zone, and go from there, possibly adding on the rest below the 0.618, and maybe the 0.50.
Major point of interest are the fibonacci levels from the previous move, which have shown a fair
amount of significance. Other points of interest have been marked with yellow lines.
More can be drawn above the 0.618 and will be added if the price gets to that point.
Trading strategy: Use fib levels of smaller moves, paired with minor and major S/R levels to find good
entry points for more of the position as EOS rises. More to come later.
This 10% that has been bought already will be held even if EOS breaks its current support, up to a 25%
decrease in spot price.
This is a long term trade that I intend to build over weeks and months. I will keep this chart updated.