_______________________________________________________________________________________________________________________________________ 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. _______________________________________________________________________________________________________________________________________ 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! _______________________________________________________________________________________________________________________________________ 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. _______________________________________________________________________________________________________________________________________ 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. _______________________________________________________________________________________________________________________________________ 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. _______________________________________________________________________________________________________________________________________ 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. _______________________________________________________________________________________________________________________________________ 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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Writings are to big for the chart, scroll right to see it all.
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Moved above 4.2 wich is a good sign
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Correction expected before moving higher
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Wow, EOSUSD broke strong above support
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EOSUSD is trading above resistance
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I am expecting a touch of the EMAs.
Also an bullish crossover is expected
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Thanks for everybody who supports my work! You are the best!
@Avery_Upton, Thanks friend, i only share detailed and clear analysis!
Cruddest
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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