In the past few hours #eos has dropped almost 11% from 12.98 to a low of 11.54
Currently eos is trading below 20,50 DMA's (13.32 & 31.38)
However there is support at 61.8fib retracement at 11.21 & below that 100DMA at 10
If the support at 61.8fib holds then we can see a short term bullish harmonic pattern in development (Butterfly)
This setup is only valid if we get perfect ratios for the C and D points, if not then it will be invalidated.
I am expecting a long around the D leg(PRZ for butterfly) if we get RSI divergences in lower t-f around 11.21 region.
Open: long-11.22
Tp1: 11.7-11.85 (around 61.8fib of CD leg)
Tp2: 12.25-12.32 (around 127.2fib of CD leg, below the 4H SMA 20,50&100 resistances)
SL: 11.1, Risk: 1.08%
R:R= 8.44
UPDATE: This #EOS Intra-day Trade is invalidated now, as the butterfly that was forming on $eosusd got dead, since its Leg ratios are not aligned(as per fibonacci) now.
You can find the updated analysis here also:
https://www.tradingview.com/chart/EOSUSD/7DqWcClk-eos-long-around-61-8fib-support-eosusd-crypto-eos/
https://twitter.com/rajista007
If you found something useful here/benefited from my calls, then kindly hit the upvote/follow me here, #tradingview as well as in #twitter.
https://twitter.com/rajista007
https://www.tradingview.com/u/rajista/
If you are in a tipping mood , you can buy me a beverage :)
LTC: LRapgEkUPwV2qENjtt3NEH8d4PPvW3sFfm
XRP Address: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh XRP Tag: 778576383
BTC: 1LM7tHMvLSghnBw2WTk3MSvfDyiGP5uGpd
ETH: 0x47eefeeea7e7b0d0840e841fbf3b3ab28ea86f8