Hello Traders,
My Elliot Wave count would suggest EOS has completed its primary wave 4 retrace to the Daily 200 MA and also to the Weekly 50 MA. These key moving averages should act as support for the next wave up.
My wave 5 target would be at the top of the channel, there is a fib cluster and previous pivot high there. It looks "normal" in terms of an Elliot Wave 5 but really this is just a guess as to where price will end up.
If price falls below the Daily 200 MA and Weekly 50 MA that is a bad sign for EOS and would imply price will drop even further. It would also invalidate this TA as the start of Wave 5.
My Elliot Wave count would suggest EOS has completed its primary wave 4 retrace to the Daily 200 MA and also to the Weekly 50 MA. These key moving averages should act as support for the next wave up.
My wave 5 target would be at the top of the channel, there is a fib cluster and previous pivot high there. It looks "normal" in terms of an Elliot Wave 5 but really this is just a guess as to where price will end up.
If price falls below the Daily 200 MA and Weekly 50 MA that is a bad sign for EOS and would imply price will drop even further. It would also invalidate this TA as the start of Wave 5.
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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.