EOS - Known as the Ethereum Killer - Consolidates faster than any coin and sets pace longer term up to $26.62 with up to 100% Gains.
EOS is dubbed as the ethereum killer for a reason. As you know all, I'm a technical analyst specifically with making use of Elliot Wave Theory. I don't know much about the fundamentals, but the charts speak loudly to me and I see bullish signs all across the board. Ranging from high price action to no time wasted during consolidation phases, I see EOS as a hot coin in 2018 to keep an eye on and adding to your tracker.
We compare EOS to DASH with an expanded flat pattern thus far. Where we see a perfectly executed symmetric angle moved up. We also see DASH hitting 100 and 161.8 extensions. We can use other coins as reference to what is possible to use as a guideline where symmetry is seen.
Closely, we see the expanded flat broken at the 100 extension point, making way to 161.8
We ask, "can EOS do the same with such a bullish coin?"
We see with EOS below that an expanded flat is starting to form:
Next we take the slopes to of the most prominent impulse move before, and see if symmetry can be found.
We see that upon breakout with the same symmetric, the characteristics are like dash, where the 100 fib extension meets the expanded flat's trend line resistance. We also see, using wave 1 and 2 as points ABC of fib extension, that:
Target 1 = $19.18, where expanded flat meets 100 fib extension
Target 2 = $26.62, where expanded flat resistance can be broken
Now the question... We've seen it before with other coins like DASH as an example, can it happen again?
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
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Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.