Trade is active from .01330 ETH for a breakout to the upside. Dual Ascending triangles combined with a cup and handle make for a good swing move to the upside.
Concerns: Major sell walls above these points. However it seems that's all they are, that have not been hitting the ask prices as EOS has crept up. Keep a close eye and close stop if you can't stomach another support test all the way to .01
Also - I have seen other people posting a cup and handle of this exact same pair. i feel they were just early to the party. It's taking a long time to form and these sell walls are holding it down.
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Position: Indecisive. The price action on this thing is extremely weird... There are consistent small buys coming through on binance that don't move the market and the sell walls have moved down keeping EOS low for now. Also, even those EOS has moved down from our entry, in terms of USD, the position has actually increased in value with the recent move in Ether to the upside. Very interesting....
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Obviously this didn't work with the market crashing. Stopped out for not much of a loss since the USD value was still up with EOS was going down
Obviously this didn't work with the market crashing. Stopped out for not much of a loss since the USD value was still up with EOS was going down
Keroles
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I'm sorry, are you saying it's going up? If i purchase now, what point should be my stop loss?
Sherem
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@Keroles, Yes. You can play it 2 different ways, put a stop just under the .01250 support level. Or go in with a small amount here with the anticipation it might dip to .01100 and buy back in when it goes there. Depends if these sell walls go away or not, but worth a shot with a couple converging patterns indicating a break to the upside