There is a possibility for the beginning of uptrend in OMGUSD

There is a possibility for the beginning of uptrend in OMGUSD

OmiseGo / Dollar BITFINEX:OMGUSD


Technical analysis:
. OMISEGO/DOLLAR is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support zone (7.00 to 5.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (7.00)
Ending of entry zone (5.50)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 9.60
TP2= @ 12.50
TP3= @ 15.00
TP4= @ 18.20
TP5= @ 20.20
TP6= @ 28.50
TP7= Free

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