After a considerable drop in price, OMG pierced through the support region at around USD 9.11, but a strong bullish engolfing pattern seems to be emerging on the 4h time-frame. There is not a lot of volume however, as it should be expected in an optimal scenario. RSI looks good enough, specially considering previous time-frames.
I will be awaiting for a confirmation signal or an increase of volume prior to enter my trade, which will have the following parameters:
Entry: 9.4775
TP: 10.5061
SL: 9.1346
risk/reward ratio: 3:1
Disclaimer: I am not a professional trader.
I will be awaiting for a confirmation signal or an increase of volume prior to enter my trade, which will have the following parameters:
Entry: 9.4775
TP: 10.5061
SL: 9.1346
risk/reward ratio: 3:1
Disclaimer: I am not a professional trader.