Descending triangle OMGUSDT*** Stops need to be re-adjusted and R:R reassessed at point of entry. As a guide, I usually count 6-8 candles back from my entry point on the timeframe I’m trading on and place my stop just below the lowest wick within those 8 candles in the case of a short, or above the highest wick of the last 8 candles in the case of the long. If this rule means your R:R to target one is not good, don’t take the trade. ***
OMGUSDT
Probable
- Long term descending triangle on daily - bearish pattern
- EMA’s bearish on daily, 12hr & 4hr
- Looking for BCR of yellow box zone
- 2 short targets
Possible
- Look to see if we create a HL within the triangle for a heads up trend may change
- Wait for EMA’s to turn up and cross bullish
- Wait for break out of the long term down trend line
- Wait for retest of the new support
- 2 long targets
OMGUSDT trade ideas
OMG Entry @ 3.00- 3.11OMG entry @ resistance + bottom Bollinger
1st ENTRY @ 3.05
2nd Entry @ 3.12
S/L @ $2.62 (-14.57%)
TGT1n@ $4.75 ( +55.03%)
TGT2 ---- $4.22 (+22.03%)
OMGUSDT LongExcellent risk/reward ration
- bounced of the long term trendline since 13 March
- held horizontal level at around 3.00 usd, so we have a higher low confirmed
- breaking out of the triangle formation
OMG - its probably in vol contraction mode now.OMG - its probably in vol contraction mode now. but just in case. LONG AND STRONG.
OMGUSD long term breakout potential. Break down is also just as possible. $OMG being a long term project backed by all the right people, combined with the much needed scaling support for the Ethereum network, collectively grabs my attention.
Hoping to see an increase in volume soon. Bitcoin and Eth must maintain or continue their price action for this to be relevant.
OMG USDT looks damn good to longOMG looks good, best would be if it can rclaim 3.56 with volume we will push it to 5.5-6$ soon
OMGUSDT breakout imminentOMG this guy gonna give an OMG moment again. Watch out .. upper R or lower R ?
Potential OMG long entryOMG is coming to the 61.8 fib retracement and strong support trendline, it has wicked off but I expect it to make another retest of it due to the low volume bounce.
If we get a good volume resumption upward, this will be a great long entry.
OMGUSDT It will be that I will repeat or impulsePerhaps a chance to add value to OMG and diversify into other technology
OMGUSDT long If you find my market analysis interesting then please like and follow me to keep up with my latest analysis. Thanks for watching it. good luck
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
BINANCE: OMG/USDT💎 Pair: OMG/USDT 💎
== GEM CALL ==
== SPOT==
⏰ 1399/07/22 ⏰
🕰 13/10/2020 🕰
Duration:
📈 SHORT - MID 📈
Ex: Binance
🛒 Buy1: 3.45 - 3.50 🛒 1/3
🛒 Buy2: hidden - hidden 🛒 2/3 DCA
👉Sell Targets👈
🎯TP1: 3.89 🥉
🎯TP2: hidden 🥈
🎯TP3: hidden 🥇
🎯TP4: hidden 🏆
🎯TP5: hidden 🚁
🎯TP6: hidden ✈️
🎯TP7: hidden 🚀
🎯TP8: hidden 🛰 M
🎯TP9: hidden 🛸 M
🎯TP10: hidden ✨ M
🎯TP11: hidden ✨ M
🎯TP12: hidden ✨ M
⛔️ SL: 2.90 ⛔️
Potential 300% Profit...
