EOS - ABC Correction in Play, but B Wave Beginning Soon
We see 5 beautiful zig zag waves down, which can signal near the end of wave A corrective down. If so, wave B corrective pattern against the counter trend begins, which goes up. Assuming a respectable fib retracement Target of 0.5 to 0.618, we can target $13-$14.30.
Entry range can depend on leveling off of MACD, though between $8-$9.75 about.
We can see a risk to reward setup of 2.61 with a possible gain of 46.47% at MOST, and a possible loss % of 18%.
Though bear in mind it's still possible to correct to 0.618 fib ranges between $6.8 and $7.70.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Twitter - https://twitter.com/PhilakoneCrypto
https://www.youtube.com/user/philakone1
If you enjoyed this video, please like, subscribe, follow, share, upvote, on YouTube, Twitter, Steemit. If you specially liked it, please donate Tequila to Luna's cryptocurrency/vodka/tequila fund.
Luna's personal bitfinex account:
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.