EOS: Trade Opportunities from the Weekly Chart

25 sept. 2020

If we look at the weekly chart, we will see the price has been moving in the borders of a triangle chart pattern. We can use this information for trading inside the patter and wait for a breakout for adding more positions. It is obvious that 2.00$ support zone is good for buying. We can use a reversal signal from this support and open long positions with stop orders below the support and the local swing low. If the price moves upward and breaks the downtrend line, it will be another buy signal. We will be able to add new long positions with a stop below the local swing low and the downtrend line. The main profit targets will be 5.50$ and 8.70$ resistance levels.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.