OmiseGo Bullish Symmetrical Triangle

BITFINEX:OMGUSD   OmiseGo / Dollar
This is a classical Symmetrical Triangle that's forming.
RSI and MACD are indicating that the price is going to decrease and fulfill the second correction leg for this pattern before further upward movement is confirmed.
Remember that The Symmetrical Triangle is known from it's explosiveness. After it breaks it will do it rapidly.
Having knowledge of this helps us to set buy targets and stop losses early.
I'll keep you updated what will happen.

Trading information:
Buy: 7.9 level
Partial Profit: around 10 level
Longer Term Profit Levels: 13 & 14 levels
Stop-loss: 6.5 level

Note this is a long term trade!

Things to remember:
-> To trade safely we need to use stop losses in case something goes wrong.
-> Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement.
-> Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!

Be Careful While Trading!
Any questions or need help? Feel free to leave comments and feedback!

Trade active: Pattern breached and the price broke upwards.
Comment: Partial Profit Target Reached!


Great Call Yarr, Thank you.
+1 Reply
yarr AnkitSharma08
@AnkitSharma08, thanks! Enjoy the trade! :)
Thanks yarr. Do you think that the larger time frame ABCD pattern could work out? 56 days up, 56 days down to .618. Would mean target around $19 by December 28 ;D
yarr cheretic
@cheretic, remember to enjoy the trade! That's a good question... That's one way thinking it. :)
Good work. Thank you.
yarr Subodhj
@Subodhj, You are warmly welcome and happy trading!
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