EOSUSD 2CHARTS

EOSUSD 2CHARTS

PAIR:EOSUSD
Two different wedges the EOSUSD normal chart which is the falling wedge and the inverted chart of EOSUSD is showing a rising wedge. These two charts still says the same thing based on the targets.
THE FALLING WEDGE( the normal EOSUSD chart)
Most professional traders knows falling wedge is a very poor performer as far as bullish chart patterns go.
Previous market performance:
Break even failure rate for up/down breakouts: 11%; 15%
Average rise/decline: 32%; 15%
Throwback/pullback rate: 56%, 69%
Percentage meeting price target for up/down breakouts: 70%, 30%
TARDERS GUIDELINES:
Price trend Can be any direction leading to the pattern, Price follows two down-sloping and converging trendlines.
Price should touch each trendline at least five times to outline a good pattern. That's 3 touches of one trendline and 2 of the opposite.
Breakout Can be in any direction but is upward 68% of the time.
The pattern confirms as a valid one when price closes outside one of the trendlines.AS SHOWN BELOW:


THE RISING WEDGE PATTERN(the inverse of the normal EOSUSD chart)
Break even failure rate for up/down breakouts: 8%; 24%
Average rise/decline: 28%; 14%
Throwback/pullback rate: 73%, 63%
Percentage meeting price target for up/down breakouts: 58%, 46%
TRADERS GUIDELINES:
Price trend Can be any direction leading to the pattern, a narrowing and rising triangle shape.
Price bounces between two up-sloping and converging trendlines, Price should touch each trendline at least five times to outline a good pattern. That's 3 touches of one trendline and 2 of the opposite.
Volume trends downward at least 74% of the time until the breakout.
Breakout Can be in any direction but is downward 69% of the time.
The pattern confirms as a valid one when price closes outside one of the trendlines.AS SHOWN BELOW:


MARKET SUGGESTION:
The near low of 6usd down to 5usd is the next support level, which is probably the bottom line of the wedge.
VERDICT:
BUY:$6.5 down to 5usd
SELL:$10usd up to 20usd
STOP LOSS:$4usd

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

 

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