OMGUSD Symmetrical Triangle
Updated
The 4hr chart on OMGUSD is setting up a nice symmetrical triangle pattern.
Normally the pattern can break either way, but it seems it is leaning towards the upside because the daily MACD is close to crossing.
Entry would be your own judgement, either green line bounce if you are risky or a strong (volume) break of the red line.
Stop Loss would be a high volume (selling) break of the lower white line.
Target prices would first be $4 (~15%) and $4.45 at the top of the wicks/false breakout which would be ~29%.
Normally the pattern can break either way, but it seems it is leaning towards the upside because the daily MACD is close to crossing.
Entry would be your own judgement, either green line bounce if you are risky or a strong (volume) break of the red line.
Stop Loss would be a high volume (selling) break of the lower white line.
Target prices would first be $4 (~15%) and $4.45 at the top of the wicks/false breakout which would be ~29%.
Note
A bull pennant has formed on the hourly, this could be a good entry point
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