EOSUSD - To long or not to long?
EOS has a corrective structure, the main question is "Is it done or half done?"
There are not many (high probability) counts left. Its either a completed zigzag, a(n) (expanded) flat or the beginning of a diagonal.
Short term bias: [Cautiously] Bullish - monitoring the structure for better entry
Mid term bias: Bearish - missing the fifth
Tradingview has issues, UI > functionality.
Here is the image with the comments that for some reason are not in the idea. (printed as orange lines?)
There are not many (high probability) counts left. Its either a completed zigzag, a(n) (expanded) flat or the beginning of a diagonal.
Short term bias: [Cautiously] Bullish - monitoring the structure for better entry
Mid term bias: Bearish - missing the fifth
Tradingview has issues, UI > functionality.
Here is the image with the comments that for some reason are not in the idea. (printed as orange lines?)
Note
Similar price action with Bitcoin and while hovering again around the median, very little room for being wrong which is exactly what you need to take a trade.Note
Note that it found resistance at 5.356 again and the target for that is 4.614 so you can adjust the SL accordingly or wait for the price to reverse/stabilize before entering.Note
There is some complexity so i will keep the bias that its still correcting on some kind of 4th wave. TP on first target, closing on the second most likely - unless it doesnt make 5 waves till then so will be trailing a small portion on the 3rd one.Note
Trade closed: target reached
Target 1.Trade closed manually
Fully closing just before reaching the second one. There is some resistance here on the BTC pair so no wonder it double tops on the USD pair.Note
There is a chance that the low is in here (truncation) and this is a new uptrend. Either way you should be aware of a pullback on the last target.LogicalDeduction must be cooking something, just sayin.
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