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Technical-indicators

OMG - Gearing up for a breakout? Over 200% Potential Long Term.Looking at OMG on the daily Chart, there's some interesting things potentially shaping up. Most obvious is the descending triangle we've been trading in. OMG trades on a bullflag historically; which is characterized by a long period of sideways or slightly descending movement followed by a massive pump. We see a fairly recent retest of bottom support in late september which held strong. We have steadily increasing volume, however the biggest spike was on a retest of the upper channel boundary that was rejected, marking a decent red day. RSI is very middling at the moment; could go either way with current priority being up. Bottom line: good indicators for a breakout coming at some point in the next few weeks, however the heavy sell volume on the upper boundary retest makes me think we might see a lower support retest like in September before things really start cooking. Wait to see if we retest or if we can break through that upper boundary without a swift rejection. Short term TP's are green fibs, potential for ATH or more when the bull flag pops. Thanks to everyone for the support over the last while, let's keep this going :) -- I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you. If you like my analysis, then leave a like and feel free to follow for more free content. If you don't like it, then leave like but do it with anger; I'll be able to tell the difference. Feedback, criticism and crude humor are welcome 🤙😁
OLong
by cryptosince1963
4
Pressing Top of Channel ...AgainBLUF: If we are going to go up the move by the bears must be extremely powerful! Do we they still have enough in them? Once again we find ourselves pressing the underside of the top of our longtime channel (since July). This is now the 5th time we've hit this top. I expect us to break out and to the upside sometime within the next few days to weeks, but if we are going to do so soon, then we will find some major resistance ahead. Not only must we break through the top of our channel but we are also facing the 200MA. Just above that? A few more levels of resistance from way back at $9300 and $9800. On the RSI chart, you can see that the bulls have already broken out of our down channel. This is a great sign! However, once again we are finding resistance at the 70.0 mark. I remain neutral for now. The next few days will tell.
COINBASE:BTCUSD
by stewdamus
XAUUSD - Descending Triangle on the 2 hour - PLAYBOOKAfter initially buying at 1448 I took profit 200 pips up now at the 38.2% fib resistance plus our price structure resistance. I now see a Descending Triangle in play - go to babypips.com website to learn about it.... I have a sell order at the previous lows in anticipation for a double bottom ... if i see support again at 1446 i will buy again and await the breakout of the triangle A breakout above would offer 400 pip movement to 1489 as part of the descending triangle playbook. If we can reach 1489 - 1500 may be on the horizon.
FX_IDC:XAUUSDLong
by tyross