One of the more bullish charts of the coins that I follow is EOS. Now I want to be clear I am far from a fan of EOS and whether the long term viability of the project evolves to add value to coin holders is still rather cloudy, but there is no denying the chart looks great!
This provides both a position and or a swing trade setup, however the market is still trending as a whole and until Bitcoin provides some clarity, there is nothing to do here but wait. We may get some better pricing in the near term depending on Bitcoin performs as it teeters between two important validation levels, as I mentioned this morning.
In the short term 4.85 is not out of reach, but I am looking for a broader target in the low to mid $6 area. However, until the market proves itself we just patiently wait which is not all bad. It provides an opportunity to go over some coins we may have forgotten about, fine tune our strategy, and look for entry points on some coins we want to add for the longer term.
EOS has one of the best charts I have found in the coins I follow and I do not trade names, I trade charts. Regardless of your thoughts on the project, the chart is very strong and in the end that is all that matters to traders.
I really hope you nailed this one and wave (5) just started :-)
SafeGamble
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Is $4.85 your .618 of Wave 3 retraced to the Wave 4 lows?
goldbug1
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@SafeGamble, hey safe, it is a projection level. I label projections green and retraced blue or red depending on whether they are support or resistance. Thanks
Personally I like zrx and bat. Eos is good for making money. Problem with all those coins is that btc will drag them regardless of how good the chart looks. Btc chart looks great too but I think we will end up falling more. The daily suddenly turned upside down again. Good luck to you.