Short

EOSZ19 Short - Butterfly Pattern, slight bearish divergence

Updated

Shorting EOSZ19, price reached overbought levels, facing resistance, fib kill zone reached and a slight bearish divergence on the daily. Targeting 618 fib level for a first partial profit.

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Addded confluence:

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4H printed a shooting star candle which makes me increasing my position.

Trade active

Sometimes it is good to switch to a line chart to see things clearer:

We broke out of the rising wedge south, dropped nicely to the 0.236 fib level. Price might rest here for a well to continue to the 0.382 level, where I am going to take partial profits and move my stop to entry. My final target will be the 0.618 level, which is confluent with the new support 0.0364. Depending on the price action and the oscillators I might flip to a long here.

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0.382 misssed by a few sats. Price should continue to dump imo.

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small retracement now, still positive on this one.

Trade closed: target reached

Massive gains here. Trade closed.

barefootsalad

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