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TradingOn
Mar 11, 2022 5:14 PM

$OMG/USDT 8h (#BinanceFutures) Falling wedge breakout and retest Long

BINANCE:OMGUSDT.P480
OmiseGO / TetherUS PERPETUAL CONTRACTBinance

Description

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OMG Network (a.k.a. OmiseGo) regained 50MA support and is pulling back to it, looks good for another bounce after.

Current Price= 4.023
Buy Entry= 4.004 - 3.800
Take Profit= 4.399 | 4.798 | 5.237
Stop Loss= 4.085

Risk/Reward= 1:1.2 | 1:2.16 | 1:3.22
Expected Profit= +25.48% | +45.92% | +68.42%
Possible Loss= -21.28%

Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 5 weeks

Tags: #OMG #OMGUSDT #PoA #OmgFoundation #BobaNetwork #Layer2 #Scaling #DeFi #Payment

Website:
omg.network

Contract:
#ERC20 0xd26114cd6ee289accf82350c8d8487fedb8a0c07

Trade active

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2/3 entries filled

OMG Network bounced on 50MA then got rejected on wedge resistance leading to more dip.
Demand zone is holding so far and we may retest the ascending TL support before further move-up!

Trade closed: target reached

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TP3 reached with +68.42% (2x) and +3.22R

OMG Network regained 200MA and achieved all targets as planned, that's a wrap!

Support and ResistanceWedgeMoving AveragesomgnetworkomisegoOMGomgusdtomgfoundationlayer2DEFIbobanetworkscaling
Comments
Solldy
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Great work!
TradingOn
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@Solldy, thanks, I appreciate your feedback :)
GiaTif74
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Great chart. Please update.
TradingOn
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@GiaTif74, thanks! I just updated it yesterday ;)
TradingOn
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@GiaTif74, and there you go! 🎯
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