EOS ready for bull run round 2?
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In February we have seen a bull run of around 50%.
We than entered a retracement period.
Are we ready for round 2?
We can clearly see a triangle forming during this retracement period the volume confirms this triangle.
A triangle however is not really a very bullish or bearish sign. But we can however we nicely use this
to determine when to enter. I will get back on this later.
There a few bullish signs:
- The fast ema(50) is above the slow ema(200)
- Price is above a green ichimoku cloud.
- Conversion line(blue line) is above the base line(the red line)
- A hidden bull div, price making higher lows and oscillators making lower lows.
This hidden bull div is very good in a retracement period after an uptrend.
It shows signs of trend continuation.
Oscillators:
RSI itself is pretty neutral at around 50.
The stoch rsi is more on the bullish side but not overwhelmingly bullish.
So how to trade this?
We than entered a retracement period.
Are we ready for round 2?
We can clearly see a triangle forming during this retracement period the volume confirms this triangle.
A triangle however is not really a very bullish or bearish sign. But we can however we nicely use this
to determine when to enter. I will get back on this later.
There a few bullish signs:
- The fast ema(50) is above the slow ema(200)
- Price is above a green ichimoku cloud.
- Conversion line(blue line) is above the base line(the red line)
- A hidden bull div, price making higher lows and oscillators making lower lows.
This hidden bull div is very good in a retracement period after an uptrend.
It shows signs of trend continuation.
Oscillators:
RSI itself is pretty neutral at around 50.
The stoch rsi is more on the bullish side but not overwhelmingly bullish.
So how to trade this?
Nota
Is see the last part got cut off for some reason so here it is :We can trade this using the triangle.
We wanna look out for a bigger green candle breaking out of
the triangle. Always see if the candle has enough volume
with it so we don't enter a fake out.
With my analysis I mostly try to figure out if the market is gonna go up or down.
So I don't have any good targets. But I mosly look at old support/resitance areas.
Two of them are around the green horizontal lines on the chart.
Same goes for stop losses use your own stop loss strategy but I probly put them around the
fast ema and base line.
Happy trading and please let me know if you did some analysis of your own and share you ideas.
Nota
Well that were some quick profits.
Penafian
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