Trade Recommendation: OmiseGo

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. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit. 

Buy: 8.74
Stop: 7.80
Profit Targets: 9.50 and 10.00

The trading signal is based on Bitfinex chart.

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.