EOS/EUR - Final Leg Down in Progress?
Last week I posted this chart, stating that the EOS/EUR chart was up against wave 4 resistance (the blue box):
Well, we all know what happened next - EOS took a dive with rest of the market, in a clear five waves down. That's the power of Fibonacci levels.
I now expect a small retrace bounce, and then a perhaps violent (3rd wave) move down towards the final lows.
Speaking of a bounce, here's a traditional TA bonus on the 15 minute chart. An Inverted Head & Shoulders setup for a possible 10-15 % scalp. Keep in mind the pattern hasn't triggered yet, but Elliott Wave supports it. Not for the faint of heart!
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