EOS: possible long scenario
EOS is currently at 0.5 Fibonacci retracement level and possibly forming a H&S chart pattern...
..on the other hand several times the price rejected the support zone around 3.4 price level and currently it's above 50 EMA on 4H chart (on daily it's still below).
It seems reasonable for me to start entering the market from current 3.8 price level with S/L below 3.4 and T/P around 5.5.
First resistance level is around 4.07, second one is around 4.41.
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..on the other hand several times the price rejected the support zone around 3.4 price level and currently it's above 50 EMA on 4H chart (on daily it's still below).
It seems reasonable for me to start entering the market from current 3.8 price level with S/L below 3.4 and T/P around 5.5.
First resistance level is around 4.07, second one is around 4.41.
//
Feel free to share your opinion/position via comment and follow me to stay updated.
Trade closed: stop reached
Always be prepared if you have position.
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