EOS break down to retest the support trendline?
We may have seen a fitch wave failure already on the EOS chart, or we still remain in a bullish pendant waiting to breakout on to the fifth wave.
Also we are trading below the 30EMA lets see this becomes overhead resistance to. (2HR chart)
Scenario 1 fifth wave failure = we abruptly follow a ABC correction back to the 1st wave peak.
Scenario 2. Not a failure and we accelerate to $7.70. There is a lot of over head resistance above the 3rd wave peak. If your long watch outdoor the overhead resistance!!!
Peace out!
LULU!!
Also we are trading below the 30EMA lets see this becomes overhead resistance to. (2HR chart)
Scenario 1 fifth wave failure = we abruptly follow a ABC correction back to the 1st wave peak.
Scenario 2. Not a failure and we accelerate to $7.70. There is a lot of over head resistance above the 3rd wave peak. If your long watch outdoor the overhead resistance!!!
Peace out!
LULU!!
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.