Hi all!
EOS had a major bull run ( scroll down to see the 1D chart ) and it's showing bearish signs on the 4H and lower. Time to sneak in a short?
it's too early to enter right now since it's showing early signs of downwards movement but it isn't there yet.
I will keep it short but sweet:
What is happening:
-> Price is going below the conversion line ( previous support )
-> strong move down ( no upper shadows HA )
-> Big up trend ( below 75 EMA would be an official downtrend )
-> volume cycle
What needs to happen for it to go lower:
-> Break 0.00194 ( close below )
-> preferably no upper shadows
-> no higher highs
-> break cloud 1H or retest of the previous support as resistance
Hope this information helped you with reading the chart from a trend trading perspective, the goal was to lay out the information there is about the current trend.
As always,
Happy Hunting!
EOS had a major bull run ( scroll down to see the 1D chart ) and it's showing bearish signs on the 4H and lower. Time to sneak in a short?
it's too early to enter right now since it's showing early signs of downwards movement but it isn't there yet.
I will keep it short but sweet:
What is happening:
-> Price is going below the conversion line ( previous support )
-> strong move down ( no upper shadows HA )
-> Big up trend ( below 75 EMA would be an official downtrend )
-> volume cycle
What needs to happen for it to go lower:
-> Break 0.00194 ( close below )
-> preferably no upper shadows
-> no higher highs
-> break cloud 1H or retest of the previous support as resistance
Hope this information helped you with reading the chart from a trend trading perspective, the goal was to lay out the information there is about the current trend.
As always,
Happy Hunting!
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1D view
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Sitting on an important Ichimoku support ( Red line ). Best to close short and reopen those when we break this.
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happy that close on that short :D ( see above )
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10% short <3
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here we go again to retest the support ( red line ) close below it would be a short entry until we hit the cloud, should wait for it to enter within the cloud to keep it open.
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Was away for the weekend but none the less; Move prediction played out nicely so far, with the upper cloud edge being resistance atm.
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The bearish bias continues with the trend going down but tightening up for a shift!
The bearish bias continues with the trend going down but tightening up for a shift!