Astral_Trader
Long

OMGBTC Inverse Cup & Handle Formation

BITFINEX:OMGBTC   OmiseGo / Bitcoin
OMG is still following the newly established upward trend. However a slight market correction has been reached and has now formed an Inverted Cup & Handle Formation. After this short correction I believe we will continue to see a bullish run with OMG. Watch for breakout once the main line of Resistance is broken. As stated before always use a trailing stop-loss to lock in profits!

Be smart and good luck!
Cup isn't inverted. if so, you might spill your coffee. =p
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Inverted Cup & handle? Are You sure?
+1 Reply
@ergorg, Sorry, perhaps I should have decreased the time-frame to better illustrate the formation. But yes the formation is present.
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ergorg Astral_Trader
@Astral_Trader, I mean, I can see Cup & Handle formation here, and making handle right now. Maybe not so beauty.
About INVERTED Cup & Handle, it's bearish formation, and nothing good for bulls. :P
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