Timeframe: 240M
Main Scenario: Price it has failed to stay and stabilize within the ascending pitchfork's body and now has made a valid breakdown below the outside sliding line (SL) of the ascending pitchfork. EDO/USD is retesting the median line (ml) of the minor descending pitchfork, so a false breakout or a rejection from here it will send the rate down again.
Alternative Scenario: A valid breakout above the median line (ml) and above the inside sliding line (sl) of the descending pitchfork will invalidate a further drop.
Entry/Stop Loss/ Take Profit: The rate could extend the sell-off if it will stay below the median line (ml) and if it will close below the 0.9003 level, so you can go short from below the 0.9000 psychological level. The Stop Loss can be placed above the former high, somewhere at the 0.9749 level and the Take Profit right above the 150% line, at 0.7114 level.
Duration: 3-5 days
Consolidation/Ratification level: You can drag the Stop Loss above the 0.9492 today's high if the price will make a valid breakdown below the 50% line of the descending pitchfork.
Warning Level: If the rate will fail to stay below the median line (ml), then a further drop could be invalidated and you should stay away from this crypto.
Risk Management: Risk/Reward Ratio: 2.31
Main Scenario: Price it has failed to stay and stabilize within the ascending pitchfork's body and now has made a valid breakdown below the outside sliding line (SL) of the ascending pitchfork. EDO/USD is retesting the median line (ml) of the minor descending pitchfork, so a false breakout or a rejection from here it will send the rate down again.
Alternative Scenario: A valid breakout above the median line (ml) and above the inside sliding line (sl) of the descending pitchfork will invalidate a further drop.
Entry/Stop Loss/ Take Profit: The rate could extend the sell-off if it will stay below the median line (ml) and if it will close below the 0.9003 level, so you can go short from below the 0.9000 psychological level. The Stop Loss can be placed above the former high, somewhere at the 0.9749 level and the Take Profit right above the 150% line, at 0.7114 level.
Duration: 3-5 days
Consolidation/Ratification level: You can drag the Stop Loss above the 0.9492 today's high if the price will make a valid breakdown below the 50% line of the descending pitchfork.
Warning Level: If the rate will fail to stay below the median line (ml), then a further drop could be invalidated and you should stay away from this crypto.
Risk Management: Risk/Reward Ratio: 2.31