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Weekly forecast OmiseGO technical chart
Symbol OMGUSD

Download MT4 template file

Trade Setup
#OMGUSD
Total Profit: 101378 pip
Closed trade(s): 17370 pip Profit
Open trade(s): 84008 pip Profit

Trade Setup:
We opened 13 BUY trade(s) @ 0.7722 based on 'Valley' entry method at 2020.04.29.

Closed Profit:
TP1 @ 0.8025 touched at 2020.04.30 with 303 pip Profit.
TP2 @ 0.9680 touched at 2020.05.14 with 1958 pip Profit.
TP3 @ 1.0865 touched at 2020.05.19 with 3143 pip Profit.
TP4 @ 1.2890 touched at 2020.05.21 with 5168 pip Profit.
TP5 @ 1.4520 touched at 2020.05.21 with 6798 pip Profit.
303 + 1958 + 3143 + 5168 + 6798 = 17370 pip

Open Profit:
Profit for one trade is 1.8223(current price) - 0.7722(open price) = 10501 pip
8 trade(s) still open, therefore total profit for open trade(s) is 10501 x 8 = 84008 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.041 is broken, we will close open trades.
DateAugust 10, 2020 - 14:04
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.041 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.041 is broken.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 1.3600 on 08/02/2020, so more gains to resistance(s) 1.8935, 2.2190, 2.4790 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 69.

Take Profits:

  1. 0.8025
  2. 0.9680
  3. 1.0865
  4. 1.2890
  5. 1.4520
  6. 2.4790
  7. 3.2285
  8. 5.1050
  9. 6.6295
  10. 13.4145
  11. 20.7460
  12. 28.3665
Click on the level to view price action history.
Symbol Released Current Forecast
OmiseGO (OMGUSD) Sat, 13 Apr 2024
OmiseGO (OMGUSD) Sat, 6 Apr 2024
OmiseGO (OMGUSD) free Sun, 31 Mar 2024
OmiseGO (OMGUSD) free Sat, 23 Mar 2024
OmiseGO (OMGUSD) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on OMGUSD.