VincePrince
Long

EOSUSD - Target reached and profit taken! What comes next?!

KRAKEN:EOSUSD   EOS / USD
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Hello traders investors and community. This is an update analysis on my recent SHORT analysis about EOSUSD . The pattern we see here looks pretty
similar to the one i detected with LTCUSD , when you didnt seen it yet you can look on my profile.
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EOSUSD reached my target which you can see in the chart marked with the red dashed trendline , this was my minimum target for the SHORT trade!
Everybody who traded this should be happy now, i already took profit!
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Now the market sentiment has changed! We are facing a possible reversal to the upside with EOSUSD here, as you can see it is trading between the
3.5 and 4.26 range. The recent support at 4.26 is now resistance.
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Now i am looking on two possible scenarios, the first scenario is an correction to the 3.7 range as marked in my chart, the second scenario
would be a break-out to the upside above the 4.26 range, this would be the point where many traders would set there LONG positions and stop out SHORTS.
When we break to the upside without correction in the actual range EOSUSD will confirm the 4.26 (red dashed trendline ) after the break-out.
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The RSI shows a oversold condition which you can see with the green rectangle in my chart, also we see a possible EMA crossover happening the next
time! These are two indicators which confirming an reversal at the moment.
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All signs seen in my chart and analysis seem positive for an reversal to the upside, but we have to wait on confirmation and dont rush emotionally in a trade!
Either confirmation will happen with a correction in the range or a break-out to the upside, these scenarios will be good opportunitys to trade EOSUSD on
the LONG side. Possible targets after a confirmation would be the blue trend-line. Otherwise when we can not hold the range between 3.5 and 4.26 there
is a high probabilty that it will fall more.
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Okay i hope you enjoyed this analysis! All information is only for educational purpose and should not be used to take action in the markets!
May all happiness and luck come to you folks! See you soon!
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Comment: Writings are to big for the chart, scroll right to see it all.
Comment: Moved above 4.2 wich is a good sign
Comment: Correction expected before moving higher

Comment: Wow, EOSUSD broke strong above support
Comment: EOSUSD is trading above resistance
Comment: I am expecting a touch of the EMAs.

Also an bullish crossover is expected
Comment: Thanks for everybody who supports my work! You are the best!
Hi do you think the whole market is going to make the same move?
+1 Reply
great chart but dont you find it weird that wave b from wave 1 going down is 5 waves ?if you make wave 5 the last wave that didnt get through "short" it will solve the problem and after that we will get a simple abc correction down

however if you make the top as wave 1 then the correction is mission and we going to have one more drop to complete wave 5 of c

but if you make the top as wave 3 and then wave 5 comes short which looks like a 5 waves certainly then we will have after that a simple abc

yeah ?
Reply
Great chart, being LONG on this one since 3.6$ also mybe a time to take a profit and wait for a deeper pullback and buy back in again. Keep rolling!
+1 Reply
VincePrince pimpcrypto
@pimpcrypto, Thank you, good observation mate!
Reply
Good detailed analysis! Great resource. Thanks!
+1 Reply
VincePrince Avery_Upton
@Avery_Upton, Thanks friend, i only share detailed and clear analysis!
Reply
I like your type of analysis buddy!
Reply
VincePrince Bullandbeartrading
@Bullandbeartrading, Thank you buddy!
Reply
thanks for your work, would appreciate if you also took value from mine
Reply
VincePrince transparent-fx
@transparent-fx, Thank you! Good work also!
Reply
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