OMGUSD: Break out upwards from strong support
OMGUSD has reached a strong support line bottom at 8.5. At the same time the downward trend is creating a wedge formation starting form the top at 29.09.2017 08:00. If it bounces up it still needs to pass the resistance point at 9.0. But if the candle closes above, we can enter with take profit around 11.0 and stop loss at around 7.5. Risk/Reward is 1.44 for this trade setup.Order cancelled
Seems like OMGUSD will continue to fall. It has broken the previous downtrend, but this trade is canceled anyway.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.