EOSUSD: The Market Moves Upward. How to Catch This Movement?
Wow! The price broke the downtrend line and made an excellent upward movement. We talked about a possible buy opportunity based on this breakout. The post in the related ideas will remind you details.
If you open a buy trade based on the breakout, now you need to think about the exit strategy. Profit targets should be placed based on resistance levels. But how to fix profit, you will have to decide by yourself.
RSI is bullish and moves upward.
MACD lines and histogram support the upward movement.
If it is not a manipulated breakout, the market has everything for reaching 4.50 resistance.
But what if you missed the breakout and have no trades now?
The smart way will be to wait for a retracement and buy based on confirmed reversal signals. Stop orders for such trades must be placed below 3.00 support. The profit targets also can be at the resistance zones.
P.S. Don't forget that for the solid uptrend in EOSUSD, we still need the fundamental support from Bitcoin.
If you open a buy trade based on the breakout, now you need to think about the exit strategy. Profit targets should be placed based on resistance levels. But how to fix profit, you will have to decide by yourself.
RSI is bullish and moves upward.
MACD lines and histogram support the upward movement.
If it is not a manipulated breakout, the market has everything for reaching 4.50 resistance.
But what if you missed the breakout and have no trades now?
The smart way will be to wait for a retracement and buy based on confirmed reversal signals. Stop orders for such trades must be placed below 3.00 support. The profit targets also can be at the resistance zones.
P.S. Don't forget that for the solid uptrend in EOSUSD, we still need the fundamental support from Bitcoin.
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