WineTrader888

EOS Long - Bat XABCD & Wedge

Long
KRAKEN:EOSUSD   EOS / U. S. Dollar

EOS looking to break out of current price levels because of the falling wedge shape and the potential bearish BAT XABCD pattern that looks likely to be completed.

The fib ratios look good on the BAT pattern and if it plays out we should see breakout towards $2.8 and strong move down after that.

We also see a clear long term bullish divergence on the accumulation distribution indicator.

Set a tight stop loss around 2.41 and enter now !

Please note that I am not licensed to provide financial advice and that this is just a speculative setup. Do your own analysis and due diligence before trading, I do not take any responsibility for your losses. Give a thumbs up if you wish to see more from me!
Comment: First profit taking opportunity is now. Or, for the conservative traders you can close the position now if you wish.
Trade closed: target reached: Could have took profits higher but we live to trade another day!

Enjoy your profits!