EOS: Good Market for Investing
The price broke the uptrend line and reached 2.40$ support zone. We got a pullback, which could be used for buying in the hourly charts. What's next?
I think this coin is a good candidate for long term trading. The price is not far from the bottom and we have a good space for the upward movement. The zone between 2.62$ and 1.44$ can be used for building long positions with the main profit target at 8.75$ resistance. Every reversal signal from the support zones, MAs as well as new break signals above downtrend lines, resistance zones, these signals can be used for buying. The main stop should be placed below 1.44$ support.
When we talk about swing trading, it makes sense to search for exact trade setups for buying using the hourly charts. Stop orders for such long trades should be placed below 2.40$ support.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
I think this coin is a good candidate for long term trading. The price is not far from the bottom and we have a good space for the upward movement. The zone between 2.62$ and 1.44$ can be used for building long positions with the main profit target at 8.75$ resistance. Every reversal signal from the support zones, MAs as well as new break signals above downtrend lines, resistance zones, these signals can be used for buying. The main stop should be placed below 1.44$ support.
When we talk about swing trading, it makes sense to search for exact trade setups for buying using the hourly charts. Stop orders for such long trades should be placed below 2.40$ support.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.