Long
$OMG/USDT 8h (#BinanceFutures) Falling wedge breakout and retest
OMG Network (a.k.a. OmiseGo) regained 50MA support and is pulling back to it, looks good for another bounce after.
Current Price= 4.023
Buy Entry= 4.004 - 3.800
Take Profit= 4.399 | 4.798 | 5.237
Stop Loss= 4.085
Risk/Reward= 1:1.2 | 1:2.16 | 1:3.22
Expected Profit= +25.48% | +45.92% | +68.42%
Possible Loss= -21.28%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 5 weeks
Tags: #OMG #OMGUSDT #PoA #OmgFoundation #BobaNetwork #Layer2 #Scaling #DeFi #Payment
Website:
omg.network
Contract:
#ERC20 0xd26114cd6ee289accf82350c8d8487fedb8a0c07
Current Price= 4.023
Buy Entry= 4.004 - 3.800
Take Profit= 4.399 | 4.798 | 5.237
Stop Loss= 4.085
Risk/Reward= 1:1.2 | 1:2.16 | 1:3.22
Expected Profit= +25.48% | +45.92% | +68.42%
Possible Loss= -21.28%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 5 weeks
Tags: #OMG #OMGUSDT #PoA #OmgFoundation #BobaNetwork #Layer2 #Scaling #DeFi #Payment
Website:
omg.network
Contract:
#ERC20 0xd26114cd6ee289accf82350c8d8487fedb8a0c07
Trade active
2/3 entries filledOMG Network bounced on 50MA then got rejected on wedge resistance leading to more dip.
Demand zone is holding so far and we may retest the ascending TL support before further move-up!
Trade closed: target reached
TP3 reached with +68.42% (2x) and +3.22ROMG Network regained 200MA and achieved all targets as planned, that's a wrap!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.