Welcome to the lab!
Going to be brief and short here today.
2.86$ is a very strong mirror level which is our current resistance resistance and
EOSUSD
was not managing to close above it for the past 2 weeks.
Also it made 2 bar false breakout which indicates that "whales" have got no intention to grow and they are still building position.
Take a close look at current situation, if today we close below the level, and tomorrow we get a confirmation it is a decent short trade with relevantly small stop loss which has to be placed above false breakout.
Entry: 2.84$ - 2.68$
STOP: 3$ -3.1$
1 target: 2.56
2 target 2.35$
3 target: 1.8$
He was the one to transform metal to gold , water to vine and charts to cash. D. Chemist
All information in the article is for educational purpose only and is not a trading advice.
Going to be brief and short here today.
2.86$ is a very strong mirror level which is our current resistance resistance and
EOSUSD
was not managing to close above it for the past 2 weeks. Also it made 2 bar false breakout which indicates that "whales" have got no intention to grow and they are still building position.
Take a close look at current situation, if today we close below the level, and tomorrow we get a confirmation it is a decent short trade with relevantly small stop loss which has to be placed above false breakout.
Entry: 2.84$ - 2.68$
STOP: 3$ -3.1$
1 target: 2.56
2 target 2.35$
3 target: 1.8$
He was the one to transform metal to gold , water to vine and charts to cash. D. Chemist
All information in the article is for educational purpose only and is not a trading advice.
Trade active:
Was a very close call on a stop-loss, we have been chainsawing our resistance, when BTCF2019 made a gap, and did not manage to close above it. As we all know 80% of the gaps are getting covered. However if you have entered the position and placed a stop at the higher recommended spot, first target reached. I would recommend to close part of the position here in case and pay a close attention to the price action
Trade closed: target reached:
Sorry for the late response. Second target reached. I think we can close our position here, since it is quite risky to hold it on a current market due to ETH fork in 2 days.