EOS is currently in a higher timeframe ABC correction. The chart posted is showing the C wave in detail, which has 5 subwaves. We can see that subwaves 2 and 4 are ABC corrections and now we are currently in the 5th and final subwave.
We have marked out the extreme lows for EOS which falls at 1.365. It is possible we may retest that level before we start the bullrun. For the 5th subwave we are currently in, its likely we'll see a descending correction for the completion of C wave. The bigger trade is the buying of EOS from the bottom, which we can identify better once more price action appears.
Trade Idea:
- Wait for more price action to appear
- Likely it will be a descending wedge, which we can mark out
- Watch for break of descending wedge and enter
- stops below the wedge
- Targets: 3.6, 6.4.
- Longer term targets: 9, 14
What are your thoughts? Let us know below!
Goodluck and as always, trade safe.
We have marked out the extreme lows for EOS which falls at 1.365. It is possible we may retest that level before we start the bullrun. For the 5th subwave we are currently in, its likely we'll see a descending correction for the completion of C wave. The bigger trade is the buying of EOS from the bottom, which we can identify better once more price action appears.
Trade Idea:
- Wait for more price action to appear
- Likely it will be a descending wedge, which we can mark out
- Watch for break of descending wedge and enter
- stops below the wedge
- Targets: 3.6, 6.4.
- Longer term targets: 9, 14
What are your thoughts? Let us know below!
Goodluck and as always, trade safe.
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