$EOS BTC - another nice setup for 80% gain 1:7 risk/reward
Good day traders,
Looks like we have a nice ABC zig zag in the fourth that just bounced off on our 200 MA in the 4hr chart. I’m bullish on EOS due to the release that's coming in June. Feel free to review my previous idea on EOS in the related ideas section below. Even though I'm bullish , let’s still trade above the pivot point just to be safe since we are still down trend at the moment.
Up close and personal with the pivot point:
Entry: buy stop at 17500
Stop: below 800H MA or 15500
Target: 32K
Risk / reward ratio: 1:7
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Looks like we have a nice ABC zig zag in the fourth that just bounced off on our 200 MA in the 4hr chart. I’m bullish on EOS due to the release that's coming in June. Feel free to review my previous idea on EOS in the related ideas section below. Even though I'm bullish , let’s still trade above the pivot point just to be safe since we are still down trend at the moment.
Up close and personal with the pivot point:
Entry: buy stop at 17500
Stop: below 800H MA or 15500
Target: 32K
Risk / reward ratio: 1:7
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Comment:
At this point we're trading below the 200MA which we haven't done so since March. I don't recommend getting in no matter how good the discount is. This is why we use pivot points for confirmation and entries
