Luettis
Long

OMG - interesting chart pattern

BITFINEX:OMGUSD   OmiseGo / Dollar
Look at the chart.
Seems like OmG makes one short and abrupt rise, then goes sideways. At the end of the rectangle (which is likely to be near the trend channel) - it makes the next rise. And so on.
Each rise brings the price to the upper trend channel before consolidation starts.
Of course there is no guarantee that this phenomenon occurs another time - but it is still possible.

In this case the nex             aimt would be a price at about 38$ - and OmG had to break through two!! resistance lines! (waht didn´t happen in the past - only 1 resistance has been broken).
On the other hand even one break through resistance would be a plus of 23% in gains - not too bad at all.

Stop:
When OMG leaves trend channel to the right or bottom and breaks through support at 20,6$.

indicators:
RSI: positive but weak
MACD: weak
ADX: low momentum, +DI on 20, -DI below

conclusion:
you can wait the breaking of the resistance line or you accumulate now with higher risks

Don´t forget: every human being acts on his own risk!!


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