EOS- Do we give leeway for 100% retracement in leveraged market?

601 3
This is a H12 chart.

Today, we made a new low at $6.75 which punctured the june 24th low of $6.8926.

There is a clear and completed ABC pattern that was anticipated since last month, which was terminated on June 24th's low. (See related idea: Keep track of this short opportunity).

The question now becomes:
Is the wave 1 of the impulse to the upside still intact although we wicked below the start of wave 1? (Dogi on H12 chart)

It is not the first time that EOS retraced 100% of wave 1 with a wick and closed above.

I am willing to take a shot and go long at this price with a manual sl should the daily close below $6.8926. In that case, it would become clear that the assumed wave 1 is no longer intact.

The upside is huge and the downside is limited. I don't see a reason to not take this opportunity.

Here is a historical example of how EOS retraced 100% of wave ones with a wick.
Trade active: I held strong as daily never closed below. I will add on breaks of all local resistances to build a bigger position size.
Beware, VERY Large hedge funds shorting EOS and BTC. We should see sub $5 ASAP.
Happy Trading !
+1 Reply
@markn, Good to know man. Source ??
AlexCH BobFlynn
@BobFlynn, not everything on the internet is true, just fyi
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out