Hello Traders,
My EW count would suggest EOS is in the middle of a wave 4 retrace and currently looks to be inside a descending triangle/bear flag. My target for this wave 4 retrace is the Daily 200MA.
Nearer the time I will be looking for oversold conditions on the RSI and change of momentum to help further identify the bottom of this corrective leg.
My EW count would suggest EOS is in the middle of a wave 4 retrace and currently looks to be inside a descending triangle/bear flag. My target for this wave 4 retrace is the Daily 200MA.
Nearer the time I will be looking for oversold conditions on the RSI and change of momentum to help further identify the bottom of this corrective leg.
Note
So far so good. Daily RSI has more room for downside. Note
Well the price hit my target of the Daily 200MA with a wick. On lower time frames there doesn't seem to be much bullish divergence and it kind of looks like it wants another small leg down but i could be wrong.
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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.