June 5, 2018
June 5, 2018 2 hour chart, updated version of the previous chart on May 29, 2018:
May 29, 2018, in https://steemit.com/cryptocurrency/@phisight/eos-eos-usd-update-turn-around-up-expected-to-launch-higher I wrote that 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.
June 5, 2018: And the price turned up from my projected blue-boxes. The move up is not quite as impulsive but now there is no more wiggle room to the downside, so if the trendline breaks, something else is playing out. Expectation is that the price will continue making its way up to the 30 dollar region as shown in the charts...
Here are the past blogs tracking this count and so far seems to have followed expectations quite well.
May 29, 2018: https://steemit.com/cryptocurrency/@phisight/eos-eos-usd-update-turn-around-up-expected-to-launch-higher
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.
