Beginning of week 2 has been marked with a losing trade. I have been watching EOS closely for the last week or so and have been really impressed with the performance of this coin. After observing EOS retrace and forming a bit of a support level at 195000-ish satoshi level I assumed it has paused to catch a breath before rallying again as bullish pin bars could have been observed. I was fully aware of the possibility of it slipping even further as it's run has been nothing short of impressive so I placed my stop at 183000 and my take profit target was at around 237500 satoshi level. This is how the setup looked like.
Unfortunately, it turned out EOS was not yet ready to rally again and retraced even further overnight activating my stop.
My assumption that EOS is going for a reversal was incorrect. We'll see how EOS behaves in the next couple of days and look for other setups. Result is a losing trade with just over 6% loss.
This trade is part of my 20$ challenge. You can read about it here:
https://steemit.com/cryptocurrency/@andrius1/20usd-challenge-week-0-introduction
https://steemit.com/cryptocurrency/@andrius1/20usd-challenge-week-1-profit-of-usd22-65
