Pure TA (Elliott Waves) on the current short term picture

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balance
Jul 28, 2018

As we are waiting for the next big move in crypto (and getting bored a bit), here is the possible idea for the short-term trade.

EOSUSD, short term

Quite nicely formed 5 waves. They are always good for the pure speculation based trades.

The SL (stop loss) should be placed right beneath the start of the waves. Right below 8 $

The TP (take profit) is close to the green trend line. Probably around 8.6 $

Ideal entry point would be 8.1$. Then we have 1:5 Risk/Reward

But 8.2$ as the entry is also Ok. Then we will have 1:2 Risk/reward

The green trending lines are taken from the bigger tim scale:

EOSUSD, 1 hour chart


EOS
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balance
Jul 28, 2018

Thanks for reading!

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