In the past few hours #eos has dropped almost 11% from 12.98 to a low of 11.54
Currently eos is trading below 20,50 DMA's (13.32 & 31.38)
However there is support at 61.8fib retracement at 11.21 & below that 100DMA at 10
If the support at 61.8fib holds then we can see a short term bullish harmonic pattern in development (Butterfly)
This setup is only valid if we get perfect ratios for the C and D points, if not then it will be invalidated.
I am expecting a long around the D leg(PRZ for butterfly) if we get RSI divergences in lower t-f around 11.21 region.
Open: long-11.22
Tp1: 11.7-11.85 (around 61.8fib of CD leg)
Tp2: 12.25-12.32 (around 127.2fib of CD leg, below the 4H SMA 20,50&100 resistances)
SL: 11.1, Risk: 1.08%
R:R= 8.44
Currently eos is trading below 20,50 DMA's (13.32 & 31.38)
However there is support at 61.8fib retracement at 11.21 & below that 100DMA at 10
If the support at 61.8fib holds then we can see a short term bullish harmonic pattern in development (Butterfly)
This setup is only valid if we get perfect ratios for the C and D points, if not then it will be invalidated.
I am expecting a long around the D leg(PRZ for butterfly) if we get RSI divergences in lower t-f around 11.21 region.
Open: long-11.22
Tp1: 11.7-11.85 (around 61.8fib of CD leg)
Tp2: 12.25-12.32 (around 127.2fib of CD leg, below the 4H SMA 20,50&100 resistances)
SL: 11.1, Risk: 1.08%
R:R= 8.44
Note
Trade is invalidated.Note
#Eos harmonic setup missed!!, #Butterfly that i was expecting, turned out to be a bullish #bat, as we didn't tested the 61.8fib support at 11.21 for 
EOS After the D point, price reversed impulsively(+6.64%) to achieve TP1 &TP2 for the Bullish #Bat.
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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.