deci8el

EOS on 1H - Two Scenarios - My First Idea

Long
KRAKEN:EOSUSD   EOS / U. S. Dollar
I've been working at day trading for a couple months now and have been greatly appreciative of all the help I've gotten from y'alls posts. This is my first idea and I'm an extreme novice, so both go easy on me and don't take this as expert advice. Just wanted to take a shot at contributing rather than just consuming.

I see trendline and psychological supports/resistances develop into zones over time and have outlined them as such. Currently EOS is making a mini pump through both on the chart and so I'm bullish on my bet for the coming hours, then off to retest the $7 recent time high (and fingers crossed up to the $8.6 mark. If support is broken down, I imagine a retest and then further downside to the next support of $6.25 or even $6.00.

MACD bull cross seems imminent and there is a nice positive slope leading us there.

RSI down trend line has been broken signaling a potential reversal.

OBV (just starting to play with this one) is on it's way back up to break the last positive volume push - if it passes, that'd signal a buy (again - as I understand it)

Alright, that's it - thanks in advance for any input and advice you may have on the analysis!

Final word: I have no idea if I'm using any of these tools correctly. I feel like I am, but am very open to feedback to improve my game. THANKS!

Comments

Always look at the chart, even if you make mistake.

It will give you the sight.

When that red is upper, there's chance of losing. Crossline is very important.

Also, when you can read the CHART. You have 70% chances of Winning Hand!
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deci8el mikeree112
@mikeree112, thanks!
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Looking good. Also when you have Green line crosses the RED line, it has good chance of going up. IF EOS reaches $6.60, it can go much higher. You have look at the EMA 12 & EMA 26 LINE, when it crosses, each other. There's good chance of Winning hand. But it can change over time.
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deci8el mikeree112
@mikeree112, Thanks! You're referring to the potential MACD cross right?
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great job bro

target of long scenario is near resistance zone
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deci8el MMBTtrader
@MMBTtrader, Thanks! I've got my target at $7.08 right now (with take profits near $6.8 and just under $7. Really appreciate you checking this out.
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