After EOS successfully retested its 2023 lows in this week’s another sell-off. By theory, an upward price reversal is coming soon to end the May 21 downtrend .

As a result, my June 17’s long trade plan has exited in another loss after holding for 2 hours only:

https://www.finlogix.com/analysis/20240617/eos-intraday-analysis-and-trading-plan-for-june-17-2024

The US is set to have 2 remaining high impact economic reports this Friday evening.

The crypto markets in general including EOS continue to recover towards the weekend after intraweek’s fall out with a much higher degree for EOS’ case.

Re-assessing EOSUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Inverted Hanging Man now a Red Long Upper Shadow

Monthly Candle: Still a Red Body since last check but with a Longer Tail Wick

Weekly Candle: Last check is a Red Body with a Slightly Longer Tail Wick now a Red Shaven Head

Daily Candle: Previous close is a Green Semi Shooting Star current is a Green Doji

Note: I’m using Tradingview.com under the EOSUSDT pair in Binance Exchange to thoroughly re-assess these high timeframe candles.

We can see great sell side liquidity grabbings underneath 2023 lows suggesting all the recent long positions were all got swept!

Even though my previous call for a weekly double bottom pattern didn’t go through, the current weekly candle pattern can pave the way for a price reversal next week.

I’m adding a break of structure 4H candlestick from last Friday’s drop.

This BoS validates the bearish 4H FVG and can be the profit target of the newly opened long positions below the 2023 support trendline.

Further drop of prices will give EOS more reasons to reverse gear as one of the most oversold cryptocurrencies lately.

I’m long again entering through the current or the next 4H candle with a stop loss set some points below the intraweek’s low and a take profit aimed towards the 4H bearish FVG’s complete retracement.

Here are the new order details to play this out:

Note: Different liquidity providers may have set their prices differently compared to Finlogix. Adjust accordingly.

I’m willing to risk again till the price reversal comes in.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

EOS Intraday Analysis and Trading Plan For June 21, 2024

Jun 21 2024

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