Consolidation achieved. Higher extension limited. Short.

2018年8月22日

After a moderate rebound at 4.1839, the momentum on EOS has shifted within a tighter Falling Wedge pattern hence the elevated neutrality on 1D (Williams = -51.953, CCI = 2.0932, Highs/Lows = 0.0000, Ultimate Oscillator = 49.557). This consolidation was the expected technical response to the previously oversold RSI, STOCH, STOCHRSI, Williams, as discussed on the previous post. The dominant trend however remains bearish on a Channel Down, still limited to a maximum Lower High within 5.9782 - 6.4155. We remain short on EOSUSD with TP = 3.8925 and 1.6921 (November 24, 2017 Low) the extension.