ForecastCity
Long

EOSBTC . Can eosbtc break the resistance?

BITFINEX:EOSBTC   EOS / Bitcoin
Technical analysis:
The currency has been in an uptrend and the price is now in the "Buy Zone" of the Bollinger bands .
The RSI is around 68.
There is also an uptrend in the RSI which acts as a dynamic support and prevents price from more losses.
We define our buy zone between the Fibonacci levels of 38.2% and 50.0%, so we can benefit from the uptrend if pullback to this zone.


Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
https://www.tradingview.com/chart/EURUSD/gJ235dvS-Hammer-Candlestick-Pattern-Definition/
(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)

Take Profits:
We take two trades accordingly:
1. first resistance is at 0.00132 and will be our target
2. Without target
Trade active: A New trading Opportunity to Buy. TP1 hit with 185602 profit…

EOS/DOLLAR
New trading suggestion:
*The price is in an up trend, and we forecast the uptrend would Continue.
*There is still possibility of temporary retracement to suggested support line (0.00132), if so, traders can set orders based on Price Action and expect to reach short-term targets.

Trade Setup:
We opened 2 BUY trade(s) @ 0.00074254(day close price) based on the reversal candle ( 2-Day Hammer ) at 03.27.2018.

Total Profit: 185602
Closed trade(s): 57746 Profit
Open trade(s): 127856 Profit

Closed Profit:
TP1 @ 0.00132 touched at 04.20.2018 with 57746 Profit.

Open Profit:
Profit for one trade is 0.00202110(current price) -0.00074254(open price) = 127856
1 trade(s) still open, therefore total profit for open trade(s) is 127856 x 1 = 127856
All SLs moved to Break-even point.

Take Profits:
TP2= Free

Technical analysis:
Eos/Bitcoin is in an Up Trend and Continuation of up trend is expected.
The price is now in the "Buy Zone" of the Bollinger bands and that is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 86.

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