EOS/ETH Long on Potential rebond on 2WMA
On my last post EOS/ETH was in overbot territory on the weekly and I was looking to add more on weakness.
The Bull Case:
Since then the pair experienced a reversion to 20WMA, STO back to the mid-area (no surprise!).
IMO the current setup could be a good entry point risk/reward-wise. Looking for a rebound on 20WMA. With a potential Exit before meeting the upper band of John B!
+ factor in Some major announcements to come on June 1st from Block.one the firm behind EOSIO and which ICO-ed the EOS token. This could play as a catalyst for an period of speculation/readjustment of expectations around D-day.
Downside Potential:
I would work this config with a tight Stoploss, Risk/reward 1:3 with a QUICK Exit if no spike up after the announcements. There is a potential of being drained by the forming divergence on the MACD.
This is just a statement of opinion and should not be construed as financial advice.
The Bull Case:
Since then the pair experienced a reversion to 20WMA, STO back to the mid-area (no surprise!).
IMO the current setup could be a good entry point risk/reward-wise. Looking for a rebound on 20WMA. With a potential Exit before meeting the upper band of John B!
+ factor in Some major announcements to come on June 1st from Block.one the firm behind EOSIO and which ICO-ed the EOS token. This could play as a catalyst for an period of speculation/readjustment of expectations around D-day.
Downside Potential:
I would work this config with a tight Stoploss, Risk/reward 1:3 with a QUICK Exit if no spike up after the announcements. There is a potential of being drained by the forming divergence on the MACD.
This is just a statement of opinion and should not be construed as financial advice.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.