EOS WAVE 4 RETRACE TARGET

5 Tem 2019

Hello Traders,

My EW count would suggest EOS is in the middle of a wave 4 retrace and currently looks to be inside a descending triangle/bear flag. My target for this wave 4 retrace is the Daily 200MA.

Nearer the time I will be looking for oversold conditions on the RSI and change of momentum to help further identify the bottom of this corrective leg.

10 Tem 2019

Not

So far so good. Daily RSI has more room for downside.

11 Tem 2019

Not

Well the price hit my target of the Daily 200MA with a wick.

On lower time frames there doesn't seem to be much bullish divergence and it kind of looks like it wants another small leg down but i could be wrong.