May 29, 2018
EOSUSD is following expectations and a sharp move UP is anticipated. For trading purposes, invalidation of this count/expectation is quite close by -- which is the prior low at 10.31. So, if one wants to trade this coin, then a stop at just below 10.30 means a risk of around 2 dollars for a reward of around 12-18 dollars for the next run up. With trading sizes positioned properly, this could be a good trade to consider.
Here are my past blogs detailing this count and so far seems to have followed expectations quite well.
On May 17th, I had presented this chart with the title: EOS EOS/USD Final Squiggles setting up completion of decline amd Turn around UP expected soon
https://steemit.com/money/@phisight/eos-eos-usd-final-squiggles-setting-up-completion-of-decline-amd-turn-around-up-expected-soon
with these charts:
and the zoomed in 1 hr chart:
I had noted then that "The decline seems to be progressing as expected, and is likely reaching its final stages as indicated by the positive divergences in RSI and MACD. Seems a turn up is close at hand. Fingers crossed!"
In this blog post on May 16th,
https://steemit.com/money/@phisight/eosusd-eos-usd-final-stages-of-decline-a-bullish-move-up-coming-soon
I had presented these charts:
2 hour
1 hour
Hope this analysis was/is/will be helpful!
Note: you can right-click and open charts in new tab to see them at full size -- they are quite large and clearer when expanded.
