EOS likely to go short
Hi everyone. Carriedout analysis on EOSUSDT and i found out there could be more bearish move to the downside.
EOS previous had a HTF impulse to the downside, now it is in a correction phase, Because after an impulse we expect correction. and currently it's doing that.
but it seems to be that this correction will come to an end in a short while.
in 15min chart there's an impulsive move to the downside (I drew it on the chart) and now it's correcting. once there's a breakout below the LTF correction it could make the next impulse move to the downside and this impulse move could break the larger correct.
secondly, there's a double top pattern formation which is a strong sign for bearish movement, this is what caused the impulse in the LTF
I'll be entering trade firstly when there's a breakout below the larger correction, followed by continuation correction
Conclusion: EOS will go short if a breakout occur below the larger correction, followed by continuation correction.
EOS previous had a HTF impulse to the downside, now it is in a correction phase, Because after an impulse we expect correction. and currently it's doing that.
but it seems to be that this correction will come to an end in a short while.
in 15min chart there's an impulsive move to the downside (I drew it on the chart) and now it's correcting. once there's a breakout below the LTF correction it could make the next impulse move to the downside and this impulse move could break the larger correct.
secondly, there's a double top pattern formation which is a strong sign for bearish movement, this is what caused the impulse in the LTF
I'll be entering trade firstly when there's a breakout below the larger correction, followed by continuation correction
Conclusion: EOS will go short if a breakout occur below the larger correction, followed by continuation correction.
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