OMG At Decision Making Point - What's Next?
Hi guys, OmiseGO managed to stabilise itself in a sideways movement. Retracement was stopped after Thai minister of finnance
gave it its support. What' gonna happend next?
We can see that the sideways movement is coming to an end. It created a roughly Simmetrical triangle whose sides are made of an uptrend line and a falling resistance line. It is considered to be a continuation pattern. Once hitting the apex (top of the triangle) we could expect a break through in the dirrection of the previous trend.
RSI is more or less in an overbought area currently falling down which is not expressed in terms of price - a possible divergence.
Set Stop - Loses under the support line and wait for the break through out of the triangle.
Your feedback is greatly appreciated.
Good luck and peace!
Disclaimer:
Due to its extremely high volatility Trading Cryptocurrency is very challenging. Potentially it can be a profitable opportunity for investors. However, before deciding to participate in the cryptocurrency market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly invest only money you can afford to lose.
gave it its support. What' gonna happend next?
We can see that the sideways movement is coming to an end. It created a roughly Simmetrical triangle whose sides are made of an uptrend line and a falling resistance line. It is considered to be a continuation pattern. Once hitting the apex (top of the triangle) we could expect a break through in the dirrection of the previous trend.
RSI is more or less in an overbought area currently falling down which is not expressed in terms of price - a possible divergence.
Set Stop - Loses under the support line and wait for the break through out of the triangle.
Your feedback is greatly appreciated.
Good luck and peace!
Disclaimer:
Due to its extremely high volatility Trading Cryptocurrency is very challenging. Potentially it can be a profitable opportunity for investors. However, before deciding to participate in the cryptocurrency market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly invest only money you can afford to lose.
Comment:
On 3 H chart on Bitfinex we are entering oversold area on Stochastic RSI. Soon we could see a decisive movement. There is no volume for the last 7 days. I suggest Stop-Loss somewhere under 7.77 USD. Personally holding 50% without stoploss - good enter price.
Comment:
Hopefully you managed to hold till 11+ area :) I went short at hitting double top. Now waiting for the retracement.
Comment:
My buy orders actualy wait a bit lower at the second support line 6.35.
