This large triangle pattern has been forming for a while. OMG price has gone on a little run, creeping closer to the top resistance of the triangle. If you aren't already in from our other, smaller time-frame entry idea, or want to increase you stake, look for entry above the horizontal resistance after the triangle breakout. RSI is in an upward trend with room to run. The price is supported by the 50 SMA, and the Stop Loss is set below the horizontal resistance and the 100 SMA, which will provide support.
If it fails to break in the next day or so, it could retrace within the triangle and prepare for another run. Eventually it will run out of track and break out.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!
If it fails to break in the next day or so, it could retrace within the triangle and prepare for another run. Eventually it will run out of track and break out.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!