ThinkingAntsOk
Short

Short Trade fully explained on EOS by ThinkingAntsOk

BITFINEX:EOSUSD   EOS / Dollar
Use this as a guide to develop your own setup

Main Items we see on the Daily Chart:

a)Price is Below a major Resistance Zone
b)Price has been on a consolidation phase for almost 30 days
c)Using Wykoff Theory of Cause and Effect, every impulse is related to the Consolidation phase it came from
d)If you think we are going to see a bearish resolution of this structure, then the downside move is really interesting to look for short setups
e)We have set Entry / Stop / Take profit on the chart, use them as an idea of what to expect or where to set your orders if you are planning on taking this trade.
f)Our final confirmation will be a pullback to the corrective structure on a lower timeframe such as 1H

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