EOS - Bearish Bat Short

EOS / DollarBitfinex

Description

⋅ Jul 5, 2018 7:22 AM

Hello traders, here we have EOS/USD on the 1h chart with a valid bearish bat pattern.

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
XA Retracement: 0.886

Price has yet to confirm the PRZ which consists of a 2.0 AB=CD, 2.24 BC and 0.886 XA retracement as the final ratio.

I'm currently paying attention to the price structure within the CD leg as a breakdown may invalidate the entire formation.

Comments

TracksuitTrader

⋅ Aug 11, 2018 1:56 PM

You nailed this one, nice. I would love to hear your thought on the current situation with EOS.

kboy10

⋅ Jul 31, 2018 9:44 PM

Great analysis welldone bro, I spotted this chart with ISHS on EOSUSDT and I think it worth sharing

dtruitt

⋅ Jul 5, 2018 8:07 PM

Mmmm- maybe I should have saved my sarcasm.....

dtruitt

⋅ Jul 5, 2018 1:28 PM

Yeah....right.

btschamp2020

⋅ Jul 5, 2018 7:27 AM

So, you are expecting to go it up or down ?

LewisGlasgow

⋅ Jul 5, 2018 7:38 AM

@btschamp2020, trade is not valid until price tests the area (PRZ) near $10.40.

The expectation is price will increase to confirm this zone where all of the fibonacci measurements converge. As mentioned in my idea, pay attention to the structure within the C to D leg.

TomPower

⋅ Jul 5, 2018 7:43 AM

@LewisGlasgow, Jezuz lew, thats another 20% of upside, hardly bearish but I hear u!

LewisGlasgow

⋅ Jul 5, 2018 8:38 AM

@TomPower, sidelined for now ;)

btschamp2020

⋅ Jul 5, 2018 9:56 AM

@LewisGlasgow, Thanks.. i will keep an eye on it...