Alright, here we are...pretty much thinking that EOS has bottomed out...though did not hit our buy spot. That's ok we are still playing the Blue Chipper, and using our roadmap, we'll be able to steer clear of the woodchipper. I understand that there is a lot going on with this thing, by the time you are done you will be seeing sounds and smelling colors, but at least you'll have a general idea of what EOS has up it's sleeve. Provided BTC -0.32% can manage to stay out of the ditch. A couple of important things geared toward the newer trader, some things that I'd like to point out:
- Set an agressive buy zone, plan your entry point. It's ok if it doesn't hit it, but when it does...it's a satisfying and powerful feeling.
- If the buy zone doesn't hit, no big deal....lets play the next logical position. In this case, EOS was banging around a neutral triangle and we entered the position after a confirmed upwards break of this triangle. Theoretically, if it broke down we would have most likely hit our intended buy zone. We set plan A, but had a backup plan in mind. That's proactive, not reactionary.
- We move out of the triangle and directly into an ascending channel . This presents a trading opportunity to swing the upper and lower limits. I am doubtful there is much longterm expectations because of the hard resistance coming up paired with the top of sub wave (5) of master wave (1)
- There are two scenarios laid out for the future of EOS. That is why we need to be a gardener of our positions, lets do the dirty work to grow our portfolios. This gives you general ideas of buy and sell areas, it'll be up to you to monitor the situation and act accordingly.
I think that sums it up. I'll be putting out these roadmaps periodically. I would really appreciate feedback if you guys like this idea or if we should scrap heap it.
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xoxo
GoldenParachute