Hi friends,
I'm back again with another idea!
This is a 6 hour chart of EOS/USD.
- long term trend: up
- short term trend: down
*It is my opinion that we have finished a set of waves: i,ii,iii,iv,v. Wave i&iii retracement are marked by yellow box.
*Although we are trading above EMA50/MA50 at higher TF, I still expect another corrective wave down, which will give us a possible buy zone. Marked by the green boxes.
-->The first buy zone is formed by previous low. Wave C can end here. This means we re-test .618 level of the whole leg (blue tool), and re-continue the uptrend.
-->The red boxes are cloned, they represent the same price range. If we have a 1:1 move down of wave A and C, this will bring us to .786 fib ext. of the whole leg. (Blue on the right). Wave C can also end here. This is the second buy zone.
Good luck!
I'm back again with another idea!
This is a 6 hour chart of EOS/USD.
- long term trend: up
- short term trend: down
*It is my opinion that we have finished a set of waves: i,ii,iii,iv,v. Wave i&iii retracement are marked by yellow box.
*Although we are trading above EMA50/MA50 at higher TF, I still expect another corrective wave down, which will give us a possible buy zone. Marked by the green boxes.
-->The first buy zone is formed by previous low. Wave C can end here. This means we re-test .618 level of the whole leg (blue tool), and re-continue the uptrend.
-->The red boxes are cloned, they represent the same price range. If we have a 1:1 move down of wave A and C, this will bring us to .786 fib ext. of the whole leg. (Blue on the right). Wave C can also end here. This is the second buy zone.
Good luck!
Trade active:
Trade active:
broken out from rising wedge.
Let's see if it touches our buy zone!
broken out from rising wedge.
Let's see if it touches our buy zone!
Trade active
Comment:
i don't have a short, i am just waiting for a buy. if you do 14 is a good sl
Order cancelled:
Blue box: in the original post, I counted the blue box as 5 wave down. And what that tells me is that the corrective pattern is not finished because a 5wave down corrective pattern cannot stand on its own. Which I found confluence as I anticipated a drop below MA55 on higher TF. That did not happen.
Now that I look at it, the chart fits better if we draw a simple ABC correction.
This means we are still in an uptrend and we can open our long position.
I will slowly add long positions at pull back.
Blue box: in the original post, I counted the blue box as 5 wave down. And what that tells me is that the corrective pattern is not finished because a 5wave down corrective pattern cannot stand on its own. Which I found confluence as I anticipated a drop below MA55 on higher TF. That did not happen.
Now that I look at it, the chart fits better if we draw a simple ABC correction.
This means we are still in an uptrend and we can open our long position.
I will slowly add long positions at pull back.
Trade active:
Comment:
motive wave cannot pass my labeleld 'B'
Green boxes are still feasible
Green boxes are still feasible
Trade active:
Approaching buy zone
Comment:
Reached 8 dollars
Trade closed: target reached:
7 dollars reached.
Lay orders at the second green box, too.
Lay orders at the second green box, too.
Trade active:
Heading to second buy zone
Comment:
long
$18.6 / $4.5 = 413%
**I hope you all lay your orders! IF it gets filled, it will be an early Christmas present! And we are still in January :)