OMG AT LEAST TEMPORARILY BULLISH
Updated
This is the first idea I publish on here.
I have been trading for a bit of time now and I would say it has gone pretty well.
I have been trading with my personal funds for the past 2-3 years.
I do not use technical indicators, instead I use price action and good old fashioned trend lines to see chart patterns.
These publishing's are made public for my own record and for a reference to anyone that can find it useful
Any opinion on my charting or information is welcome
Now OMG looks at least short term bullish to me with a strong possibility of longer term bullishness.
The trend lines I placed on the chart indicate where I see it going short term which is around $4.53(right under my resistance line)
If resistance is broken I will wait for one of two things; did it hold above the resistance line(once it crossed resistance did it drop, close above resistance and continue rising?) or two wait for it to go below to a lower support.
if this is accomplished I will buy again at either of these two options
What happens next I will determine at a later date.
I currently hold a position in OMG for short term to my $4.53 target. Even though I think it will go higher I like to sell lower as getting greedy generates hefty losses.
Be technical and wary of your conditions then shoot for your targets!
I have been trading for a bit of time now and I would say it has gone pretty well.
I have been trading with my personal funds for the past 2-3 years.
I do not use technical indicators, instead I use price action and good old fashioned trend lines to see chart patterns.
These publishing's are made public for my own record and for a reference to anyone that can find it useful
Any opinion on my charting or information is welcome
Now OMG looks at least short term bullish to me with a strong possibility of longer term bullishness.
The trend lines I placed on the chart indicate where I see it going short term which is around $4.53(right under my resistance line)
If resistance is broken I will wait for one of two things; did it hold above the resistance line(once it crossed resistance did it drop, close above resistance and continue rising?) or two wait for it to go below to a lower support.
if this is accomplished I will buy again at either of these two options
What happens next I will determine at a later date.
I currently hold a position in OMG for short term to my $4.53 target. Even though I think it will go higher I like to sell lower as getting greedy generates hefty losses.
Be technical and wary of your conditions then shoot for your targets!
Note
Now I am waiting to see where I will be getting back in on this. Long term I see this coin at around $40. Right now it hit the resistance. Could we see a triple bottom, will it go lower to the $2.60 area, or will it continue above the resistance where it will become support? to be continued.
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