EOS Counter-Cyclical C&H Breakout? Good for 90%?
Updated
EOS is performing a potentially very bullish pattern on the daily chart, and a breach of the pink descending channel line could unlock it with gains around 90%. A counter-cyclical cup and handle MONSTER trade!
Early bird entry is around the $1.64 pivot support, which is the edge of the major classical fibo support zone. I don't recommend this entry for beginners, as it will most likely result in a heavy selloff if breached and closed (remember, we are in a downtrend). But you will be rewarded if it pans out to the upside. A safer buy is fetching the breakout at $2.13. Be aware of the descending trend lines along the way.
Alternatively, the large harmonic pattern (AB=CD) may play out, taking us back toward the all time low. We would most likely form a high low, and I don't expect a full retracement yet.
As always, I'll keep things updated.
Cheers and GLWT!
- Erik
Early bird entry is around the $1.64 pivot support, which is the edge of the major classical fibo support zone. I don't recommend this entry for beginners, as it will most likely result in a heavy selloff if breached and closed (remember, we are in a downtrend). But you will be rewarded if it pans out to the upside. A safer buy is fetching the breakout at $2.13. Be aware of the descending trend lines along the way.
Alternatively, the large harmonic pattern (AB=CD) may play out, taking us back toward the all time low. We would most likely form a high low, and I don't expect a full retracement yet.
As always, I'll keep things updated.
Cheers and GLWT!
- Erik
Comment
Here's a closer look.Comment
The BO!So fast...
Comment
Consolidation?Comment
Watchout for a rejection from the upcoming fibo extensionTrade closed manually
Waiting for next patternComment
Hit the fibo extension...consolidation time?Trade closed: target reached
Hit MAX TP. CHeers! Thread closed.Comment
Hahahaa MONSTER TRADE! We got another 75%. Watch for further breakout. Trade closed: target reached
Absolutely incredible....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.