Tools used:
OmiseGO popped up to $17 and quickly dropped. Currently forming a bull flag, looking forward to a confirmation for a continuation of it.
Regression channels:
Arguments for a long position:
Arguments for a short position:
Safest move would be to scale in long orders from $10 onwards as BTC is still grappling with its identity crisis.
- Fibonacci speed resistance fans
- Chande Momentum
- RSI
- VWMA (Length: 8, length of 20 on hourly)
OmiseGO popped up to $17 and quickly dropped. Currently forming a bull flag, looking forward to a confirmation for a continuation of it.
Regression channels:
Arguments for a long position:
- Taking the traditional method of finding target price of a bull flag, OMG should hit $20 after breakout
- ATH is just around $40
- Bull flag pattern
- Strong FA, both team and community wise; verifiedtopics.com/omisego-omg-strong-daily-gainer-strategy-announcement-expected/
- Re entering main (green) regression channel after it failed to break out under it. (Poor correlation ratio at ~.5 however)
Arguments for a short position:
- Currently in a correction phase after a huge rally
- Top of bull flag channel, expecting it to drop again in the flag channel
- Seems to have failed to break out from cyan regression channel
- Weakening momentum
- RSI making a hns pattern (lol)
Safest move would be to scale in long orders from $10 onwards as BTC is still grappling with its identity crisis.
Trade closed: target reached
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.