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EOSXBT

EOSXBT - A quick and easy swing tradeBEOSXBT has reached a consistent line of resistance. At this falling trend line, the bears have been able to sell off and bring price back down to lowering support levels within the downwards channel. Not a whole lot of theorizing to be done. A simple, profitable trade. Many traders will overwhelm you with too many indicators. Most of these are useless. In this trade, the only objects that hold relevance are the trend lines (upwards wedge within the bearish channel) and the stochastic measure. The stochastic is in an overbought range and when we see a crossing, that is a sign that further sell off is coming. The first profit target is placed at the bottom of the ascending wedge (shown in red). At this point, profits should be taken on 50% of the position. The rest should be held as we expect further downside once the wedge breaks and the sellers can bring the price down further without support. A trailing stop loss should also be put into place. Once we see price reach the first profit level and 1/2 of the position is sold, a new stop loss should be set at the point where the position was opened. These strategies are used to maximize profits and to consistently be able to take some profits, no matter what the market does.
BITMEX:BEOSXBTShort
by benbachman
Update: EOS to hit or even pass the 0.000540 resistance Lock your orders equal or below 0.000536 and it's expected to hit this level tomorrow 20th of Dec at midnight max. If you're a day-trader like me, you would be very happy locking it at this price but if you're going long term then it's a good idea to hold for another week because it's gonna get crazy! Comment: Took a swing down from the last idea I published but I think the trend is still valid. If it didn't hit the price tomorrow then consider going short if you're a day trader.
Long
by Nosseh