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Cryptocurrency
by Seth Parker on July 12, 2018

EOS Analysis – Another trend continuation pattern

Now time for EOS. We are proud of the last analysis that we wrote about this crypto. It was on the 23rd of May and back then, the price was around 11,2 USD. This is what we wrote in our previous piece:

“The breakout, which is happening as we speak, confirms the sell signal that we gave almost 2 weeks ago. The potential target is the green line connecting higher lows from the March and April. „

EOS Chart

Since those words were written. The price was mostly going lower. Almost every day. In the meantime, EOS created three trend continuation patterns. All of them resulted with a breakout of the lower line. First one was a wedge (red), second was a pennant (orange) and the third one and the most recent one, was a flag (green).

Flag gave us a sell signal on the 9th of July. After that, the price made new lows, which confirms the sell signal. Negative approach will be denied, when the price will break the lower line of the flag, which for now, is less likely to happen.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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