EOS / BitcoinShort
EOS Prediction
Updated
Target: Blue box.
Stop loss: After red box.
Reason:
- TD sequential shows that the previous counts only green candles to around number 3 before trending downwards again.
- Bollinger bands are expanding towards downwards then upwards which indicate a potential movement downwards.
- A bear flag seems to have formed.
- Trending channel goes downwards rather than upwards.
- Stochastic oscillator shows oversold but RSI still show room for movement downwards.
- Target should be around the next resistance level.
- Price is under 50 EMA and 200 EMA. A crossing between these lines are about to happen.
- Volume is relatively low at this point which will probably cause it to trend the way it leans to the most.
Stop loss: After red box.
Reason:
- TD sequential shows that the previous counts only green candles to around number 3 before trending downwards again.
- Bollinger bands are expanding towards downwards then upwards which indicate a potential movement downwards.
- A bear flag seems to have formed.
- Trending channel goes downwards rather than upwards.
- Stochastic oscillator shows oversold but RSI still show room for movement downwards.
- Target should be around the next resistance level.
- Price is under 50 EMA and 200 EMA. A crossing between these lines are about to happen.
- Volume is relatively low at this point which will probably cause it to trend the way it leans to the most.
Note
TD sequential was used in a wrong way, sorry.Trade closed manually
Past target. Need to work on identifying target level.
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.