This will not be a cocky or arrogant D4rkEnergY writing to my beloved followers out there. It will be a humble and down to earth-kinda guy.
The Royal Highness, Henrik (Henry) the Prince Consort of Denmark, died some days ago and was buried earlier today in Copenhagen. D4rkEnergY is not a royalist, but it is always a beautiful thing to remember the deceased.
We are here taking a look at the 1D EOSUSD Chart. First of all we can see that we have completed a beautiful Cycle (1-5 and the ABC-Correction). We are still in a downtrend (the black line), but is seems that we already have made our first new (1) and it's retracement (2).
When that is said, we are NOT going to buy a position at this moment. This is way to dangerous. Even though we might not be far away from breaking out from the downtrend, we are still in a zone of confluence resistance.
We need to break out and up to 10,64 USD before we can make a long position. At that time we are also above the EMA20 and EMA50 with the EMA100 and EMA200 way under us.
This should be a perfect opportunity for us to ride on 3 up and up to 14,62 USD and make our self a 37 % profit! Remember to put a stop loss. D4rkEnergY will suggest 8,81 USD which give us a Risk/Reward-ratio on 2.17.
RIP R.H. Henrik The Prince Consort of Denmark!