hey guys welcome back to the channel welcome back to phantom strategies so it’s April 29th 12 p.m. Eastern here in us want to bring you a quick update on EOS a menu on the technicals we’ll cover a couple of events that are going to come up but mainly want to cover on the technicals this is one of the coin that I haven’t previously covered on this channel so I want to bring you this update it have been quite strong in last couple of weeks there have been a lot of volume that came in as well but let’s talk all about that let’s do a recap on it and we’ll talk about the technicals alright before I get started if you’re new to the channel please make sure you subscribe to the channel and hit those notification and those bell icon so you can get this content right away and if you think this videos are helping you with your with your trading investing in crypto market then please do give me thumbs up alright so that being said euros is trading at twenty twenty seventy nine right now against us deep here I’m looking at the daily chart and this data is coming from Finance calculated by trading you so initially what yours had let’s do a recap on it so if you go back to the may and April timeframe what it did is like it created that bottom right around that March sorry a March and April timeframe and March it created that bottom right around that’s three Sony two and since that we try to make that run try to get out of this falling wedge if I if I draw this thing out right here it will be much clearer it was more like a channel it was like a down channel and we got out of that channel right at that middle of the March okay this channel so since then we had this breakout of this channel down channel consolidated in this zone right here in the early late late March early April and you know we have been like you know has been sitting there and it did not make new lows or it was anyone coming near that previous lows so that was it all was a good sign and since then with the overall market strength it broke out of there and we had a let me change this colors so we had a like foster tested that 10 $10 and 65 cents which was the previous high I know it was going to act as a resistance and then we broke that after consolidation we broke that and got over that now what I’m seeing right here is this is this is a little bit stressed out what I mean by that is like you know it ran up too much too fast and it needs to consolidate it needs to come to the level where it would make sense to get into a position if you see the 50-day moving average is quite if I just do it the price range let’s say a price range from the 50-day moving average which is this black line from their current price range is about one hundred and fifty three percent up which is massive it needs some room to digest it needs to like you know the 50-day moving average needs to come up and it needs to room to digest now let’s talk about the 20-day moving average okay so the 20-day moving average which is very a lot of like then the swing trader a lot of the day trader also looked that up now that is almost 78 percent 80 percent from the 20-day moving average so that is again very very the price action he’ll seem to gone too much too fast so if you are getting into EOS or if you’re thinking about getting into yours or you are already in two years then think about you know those things that I just mentioned in my opinion this is a little bit overbought or stressed and it needs some time to consolidate I wouldn’t like you know go into a new position and use right now it needs to consolidate and come back it looks like a little bit blue out top right now and I just need to come to a right level in order to get a again start a new position or get into existing position so I just want to like you know don’t get into that amateur trading where a lot of time in previously like you know in the late December January time frame a lot of people got into this all coins now on the fear of missing out form oh that’s what they call it so as let’s not get into those kind of habits where you think that oh my god this is going to be my next lottery ticket and I’m going to become a millionaire based on this one coin I have said it plenty of times on this channel you can go back and refer to the videos you know market will always always always will give you another opportunity to make money as long you are disciplined enough to you know to make that call you know to you know to to not to get not to trade with your emotions rather than like trade with probabilities you know and not to like chase something that is so it’s already going up rather than let it come to you so those kind of things will really help you going forward and become you know being that you know discipline investor being that professional investor that that you need to become in order to like you know make consistent gains remem like I want to share one of those stories actually I wasn’t really planning on sharing in this video but I want to share one of the stories that one of those one of the subscriber to the channel and one of the subscriber to my email subscription she started like you know about three months ago she she came she came to me and like she wanted to join the the email subscription group and you know she gave me her background and like you know how she got into the market she she you know she actually took some money the loan money based on her credit card like you know she took the loan against her credit card and she invested that money into crypto market and she actually turned that money into 6-figure going into this December and December and January time frame but it was she made a very like you know typical amateur mistake where she didn’t take her initial investment out or she didn’t take the she didn’t book the profits so and what she did is like you know it turned into more of a the money she invested it turned to like you know loss during this during this the market we had for last couple of months but I we we’ve been chatting back and forth we’ve been exchanging email back and forth so I’m really really glad that she is finally she she emailed me yesterday and she is really she’s depth free she paid off her credit card and now she is completely you know trading with the monies that she she have rather than borrowing the money from the clerk or or someone else and then trading on that so I’m really really glad for her and I just want to do like you know give you that example I took I kind of like you know let’s you know that you know it’s a training on credit cards and trading on borrowed money will never ever will help you because you will always have that mindset in your head like I hate that I have to make the money and you will you make those mistakes it’s very like you know it’s very like psychological that you will always have that something that fear in your head that you’re trading with like borrowed money so I would really highly highly recommend to someone who are trying to get into the market or who are already in the market and trading with board money to like you know try to pay off your you know that cards or like the the board money as soon as possible even if it’s like $400 $400 you know try to pay it off it feels much better and you don’t want to trade with those kind of money because it never it will never do you any good to be honest with you trading on borrowed money I have done it I’m not going to deny it I have done it like I have traded on margins back in like you know when I was starting in early 2000 when I was getting in the option market getting in the stock market I was doing amateur trading back then and I used to you know trade on margins I used to make you know margin call you know half a million trade on a margin account so and it never never you might get lucky once or twice but I’m telling you in long-term you will always be on the losing side so please think about it you know take something you know learn from the mistake from the people who already you know came before you and who have done trading before you and learn from that you know so you can avoid this kind of mistakes in your trading okay so I want to just bring you that quick example I know I little bit got sidetracked from yours but I wanted to bring you that example for uh for that you know one of the subscriber she’s a young lady who really you know really trying to make make it right and she is she’s on the right path now so I know a lot of people are in the same position because I do get a lot of emails like that and a lot of people are in the same position where they have been trading with the borrowed money and you know that that profit that turned into loss and then they don’t know what to do with it and it’s a very difficult situation so hopefully you can learn from it since the market is coming up now you can you think you’re thinking about how to pay back that bard money either from the credit card either from your parents or like you know the loan you took whatever it might be so keep keep that in mind that you know creating with the money that you don’t have will never never do you any good and you always want to trade with something that you know that you can afford losing or like you know it won’t change your lifestyle basically all right so let’s do a quick recap on my policies on getting little sidetracked on that examples but I thought it’s very important to bring that up since a lot of people are in the same boat on EOS I think is really or stretched right now I wouldn’t be starting a new position or adding on to a position right now it’s completely all bought at this point and all the indication that I like to follow and I like to look at that showing means completely overbought in the short term or what in the long term long term as in daily so I would I would wait for the consolidation and then reanalyze the coin before I jump into EOS there are other coins and my opinion that are doing you know there are that can do much better than yours Tron is being one of them and there is ripple is also another one I will cover them shortly and but like you know there are some other coins that are there are consolidating much nicely right now and ready for that next breakout so that’s pretty much it guys let me know if you any questions you post it in the comment and we’ll go from there talk to you soon

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