OMG long opportunity
Updated
Omg, omg, omg.
I like this chart. I don't know much about OmiseGO as I'm trading mostly charts and not names.
Chart is having good looking rounded bottom here so it might be nice investment opportunity as well a trade that I'm setting up.
I don't recommend investing in any Alt before doing some serious Fundamental Analysis on the coin you want to invest in. So do some deeper research if you like a coin.
You really don't want your coin to get delisted from a big exchange few months after your buy it. Most of the time it falls down like a stone before you even notice it. Believe me. I've done it many times :D
Here is the plan for the trade --> I'm waiting for the price to break the resistance line and stay above. Most of the time they turn into support lines ones they are broken and I expect at least one retest after it. So I'll put stop loss below this line and try to get even tighter stop than on the chart.
For long term hold I would set looser stop loss - below 0.00030700.
You can increase/decrease the risk by moving stop. Or with the size of your position.
You can choose what is the most likely reward.
Overall 1:7 risk/reward ratio as presented on the chart seems reasonable. This is in case you sell everything on second target. So this set up only needs to work one out of seven times to make long term profit.
__________________________________________________________________________________
If you've found something interesting here you can like this idea or smash the follow button!
Other ways to support my work if you choose to:
--> Sign up on Binance with my Referral Link: binance.com/?ref=26255122
--> Sign up on BitMEX and get 10% discount on all fees for 6 months after you sign up using this Affiliate Link: bitmex.com/register/tnUzy4
The supporters will get all the help you need to learn how to use different trading platforms AND understand risk management in trading via Private Messages, Discord, Skype...
I'm sure most of the best traders will agree that risk management is the single most important subject you need to understand very well when it comes to trading or investing.
Without this you can easily blow off your account.
You can also make a donation on one of my addresses:
BTC: 12qe5buhPQTAEnqmMYBNafymePd9BAgqJT
ETH: 0x134c60f13c48fe1ea48b10f980a2c68070f1bf82
LTC: LTuRNgXDU2ojj7DseX4GRhQcFyJzXo82mn
But again - you can instead start on Test Account and make a goal to be at least break even after 50, 100 maybe even 200 trades. Or at least for some months.
Here is one example: testnet.bitmex.com/
Let me know if there is any specific subject you would like to discuss!
I like this chart. I don't know much about OmiseGO as I'm trading mostly charts and not names.
Chart is having good looking rounded bottom here so it might be nice investment opportunity as well a trade that I'm setting up.
I don't recommend investing in any Alt before doing some serious Fundamental Analysis on the coin you want to invest in. So do some deeper research if you like a coin.
You really don't want your coin to get delisted from a big exchange few months after your buy it. Most of the time it falls down like a stone before you even notice it. Believe me. I've done it many times :D
Here is the plan for the trade --> I'm waiting for the price to break the resistance line and stay above. Most of the time they turn into support lines ones they are broken and I expect at least one retest after it. So I'll put stop loss below this line and try to get even tighter stop than on the chart.
For long term hold I would set looser stop loss - below 0.00030700.
You can increase/decrease the risk by moving stop. Or with the size of your position.
You can choose what is the most likely reward.
Overall 1:7 risk/reward ratio as presented on the chart seems reasonable. This is in case you sell everything on second target. So this set up only needs to work one out of seven times to make long term profit.
__________________________________________________________________________________
If you've found something interesting here you can like this idea or smash the follow button!
Other ways to support my work if you choose to:
--> Sign up on Binance with my Referral Link: binance.com/?ref=26255122
--> Sign up on BitMEX and get 10% discount on all fees for 6 months after you sign up using this Affiliate Link: bitmex.com/register/tnUzy4
The supporters will get all the help you need to learn how to use different trading platforms AND understand risk management in trading via Private Messages, Discord, Skype...
I'm sure most of the best traders will agree that risk management is the single most important subject you need to understand very well when it comes to trading or investing.
Without this you can easily blow off your account.
You can also make a donation on one of my addresses:
BTC: 12qe5buhPQTAEnqmMYBNafymePd9BAgqJT
ETH: 0x134c60f13c48fe1ea48b10f980a2c68070f1bf82
LTC: LTuRNgXDU2ojj7DseX4GRhQcFyJzXo82mn
But again - you can instead start on Test Account and make a goal to be at least break even after 50, 100 maybe even 200 trades. Or at least for some months.
Here is one example: testnet.bitmex.com/
Let me know if there is any specific subject you would like to discuss!
Note
Some signs of possible reversal. Let's see if price will make few more lower lows and make more bullish divergence by doing it. If it keeps a wedge shape as well it might be opportunity to open a small position with very tight stop loss.
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