Based on the 1H chart we can draw a pennant chart pattern. It's a continuation pattern and we should expect for further upward movement. Pending orders for buy must be placed at 8.74 level. Stop orders must be below 7.80 level. Profit targets are 9.50 and 10.00 levels. If the price drops below the bottom line of the pennant, we'll see downward movement to the uptrend line and the nearest support level. If so, you should delete pending orders for buy and wait for new trading opportunity.
What do you think about the 1D candle chart for OMG? I see a similar pattern leading up to the last breakout, not sure if it can push through.
GordonR
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@DLavrov Thank you so much for spending the time to publish these trading ideas.
I'm especially grateful for the level of detail you put into them, as it's actually helping me to learn technical analysis along the way.
blee300
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Thank you so much for your analysis but Is it possible to do the analysis with the OMG/BTC? because it seems little different than the OMG/USD and the Bittrex is not actually offering OMGUSD trades.
SachTrade
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Hey @DLavrov first I have to admit that your one the best chartist and technical analyst here at trading view. I was wondering if you ever did work on ULTA? would love to see your take on it please if its possible. thanks
best regards
Rumdig
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@DLavrov I'm curious as I have never used a pending buy order. You place a conditional buy order which will execute at the price which verifies your analysis, correct? And then place a Stop loss order after it has filled. If so, what protection do you have if the price action executes your order then quickly reverses all the while you are out sipping coffee ;)
Thanks for the insight. Your analysis are always spot on, clear, and concise.
noideaihave
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Its broken pattern. You think there will be another entry? Or buy now?
DLavrov
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@noideaihave, Entry level for long trades is 8.74.
anas83
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Big Thanks 4 you
badeggs
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Owesome !!! Owesome !!! information. What about NEO/USDT ?