EOSUSD: How I Trade in This Market

The market gave us a reversal candlestick pattern below the uptrend line and 4.50 support. I used this bullish signal and opened the 1st long position at 4.30 level.

Today, the market is going to confirm the price reversal. If the close price is at the current levels, it will be the bullish candle with the close price above the downtrend line and 4.50 support. RSI is going to confirm the price reversal. I'm going to use the high price of the bullish candle for placing the 2nd long position.

At the same time, I'm ready to see the false reversal and the further onward movement to 3.70 where I will open the 3rd long position.

It is my trading plan for the market, and what about you?



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.

Comment:

The 2nd long position moved to 3.70 support.

The 3rd long position will be opened between 3.00 and 2.35, if the price reaches this zone.