SUMMARY
EOS has come a long way! Back whe it was $0.50; many called it impossible for EOS to climb because of monthly 2 Million coin inflation. I'm hoping that EOS's recent price action can perhaps enable those to open their minds to the fact that price is purely driven by sentiment and not news or events or fundamentals. Elliott Waves states the news and events shall arrive to justify the forecast and NEVER the reverse. This concept is very difficult for many to grasp, never mind believe! It's very understandable as we are all born into a very Newtonian physical world where all has cause and reaction. However, experiences such as EOS's price will help many non-believers to experience how truly price is the earliest reflection of sentiment and therefore drives news and events, never the reverse.
The below is an updated chart of EOS. My primary count shows a high likelihood of an a,b,c,d,e triangle pattern to form.
In this chart, I've drawn a much larger bowl (white) outline. It's uncanny! The a,b,c,d,e forward discerned pattern could well be the handle formation. This triangle will probably take a few days to complete. Then, impulse could take EOS to $8.99 or higher! Now, not the blue Cup & Handle pattern. This is embedded within the much larger white one. A FRACTAL! Look what happened to the price with the smaller blue Cup & Handle....what do you think will happen to the price when the MUCH LARGER white Cup & Handle completes?
My alternate count is shown below. If the 5th wave is extended, then the a,b,c retracement could play out. Again, this is an alternate count and will look to it only if the a,b,c,d,e triangle becomes invalidated.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**