EOS / BitcoinLong
EOSBTC 1W long setup; Breakout of long lasting downtrend
TA explained
EOS broke out of the long lasting downtrend which developed within the parallel downward channel. Price broke out and pulled back towards the broken trendline. A little more pullback can be expected which might also wick through the lower entry price.
Final target aligns with the 0.618 fib retracement level. SL is a bit wider than usually, risking a bit more on this trade because of the potential profit.
Trade setup
Best entries: 0.0001228 - 0.0001660
TP1: 0.0003299
TP2: 0.0005507
TP3: 0.0009781
TP4: 0.0015790
SL: 0.0000909
RR: 17.73
Max leverage: na
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
EOS broke out of the long lasting downtrend which developed within the parallel downward channel. Price broke out and pulled back towards the broken trendline. A little more pullback can be expected which might also wick through the lower entry price.
Final target aligns with the 0.618 fib retracement level. SL is a bit wider than usually, risking a bit more on this trade because of the potential profit.
Trade setup
Best entries: 0.0001228 - 0.0001660
TP1: 0.0003299
TP2: 0.0005507
TP3: 0.0009781
TP4: 0.0015790
SL: 0.0000909
RR: 17.73
Max leverage: na
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
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.
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.