Hi all!
EOS had a major bull run ( scroll down to see the 1D chart ) and it's showing bearish signs on the 4H and lower. Time to sneak in a short?
it's too early to enter right now since it's showing early signs of downwards movement but it isn't there yet.
I will keep it short but sweet:
What is happening:
-> Price is going below the conversion line ( previous support )
-> strong move down ( no upper shadows HA )
-> Big up trend ( below 75 EMA would be an official downtrend )
-> volume cycle
What needs to happen for it to go lower:
-> Break 0.00194 ( close below )
-> preferably no upper shadows
-> no higher highs
-> break cloud 1H or retest of the previous support as resistance
Hope this information helped you with reading the chart from a trend trading perspective, the goal was to lay out the information there is about the current trend.
As always,
Happy Hunting!
EOS had a major bull run ( scroll down to see the 1D chart ) and it's showing bearish signs on the 4H and lower. Time to sneak in a short?
it's too early to enter right now since it's showing early signs of downwards movement but it isn't there yet.
I will keep it short but sweet:
What is happening:
-> Price is going below the conversion line ( previous support )
-> strong move down ( no upper shadows HA )
-> Big up trend ( below 75 EMA would be an official downtrend )
-> volume cycle
What needs to happen for it to go lower:
-> Break 0.00194 ( close below )
-> preferably no upper shadows
-> no higher highs
-> break cloud 1H or retest of the previous support as resistance
Hope this information helped you with reading the chart from a trend trading perspective, the goal was to lay out the information there is about the current trend.
As always,
Happy Hunting!
Note
1D viewNote
Sitting on an important Ichimoku support ( Red line ). Best to close short and reopen those when we break this.Note
happy that close on that short :D ( see above )Note
10% short <3Note
here we go again to retest the support ( red line ) close below it would be a short entry until we hit the cloud, should wait for it to enter within the cloud to keep it open.Note
Was away for the weekend but none the less; Move prediction played out nicely so far, with the upper cloud edge being resistance atm.Note
Note
The bearish bias continues with the trend going down but tightening up for a shift!
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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.
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.