It looks like EOS is forming a head and shoulder pattern again. The idea is to trade the break of the neckline, 1-hour time filter can be applied for additional confirmation as there might be a false break.
Stop loss above the 2nd shoulder. TP level based on the M.P.O. projection.
Try to keep it simple. Found out that simple analyses and basic pattern work very well in the crypto market.
Please like and check my other ideas. Follow if you'd like to receive updates on short-medium term trade signals.
Stop loss above the 2nd shoulder. TP level based on the M.P.O. projection.
Try to keep it simple. Found out that simple analyses and basic pattern work very well in the crypto market.
Please like and check my other ideas. Follow if you'd like to receive updates on short-medium term trade signals.
Note
If you think is not going to work out, look at the previous one, that I posted last Sunday)) . Looks really similar, with the second shoulder having 2-3 sub shoulders!Think we gonna see smth similar now as well with the break of the neck-line on Monday.
Note
Still going to trade the break of the neck-line with the new SL above the new recent high (2nd shoulder)!Note
And if looking at the daily chart, it looks pretty bearidh as well. STCH bearish cross, a break of the uptrend on the RSI will mean a touch and a potential break of bottom of the triangle:Trade active
It happened even faster than i expected, in the trade nowgood luck to all who are shorting it as well!
Trade active
Despite the fact that on the initial chart, the SL level has been reached as mentioned the new SL level was above the recent high - 5.96 level. Still in the trade!Trade active
Trade closed: stop reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.