Updated OMG Idea on the hourly chart

13 de jan. de 2018

Looks like OMG could be forming a bit of a longer consolidation pattern before continuing on. Looks to be moving in one of two possible channels which are marked. Retracement of last wave hit the 50% level nicely and the pattern is forming lower highs and higher lows. I've indicated a couple of possible sell targets in red. Good buy zones could be either at the bottom of the triangle or wait for the breakout of the upper trend line of the triangle to confirm a breakout. Always set sensible stops and have a clear strategy for managing trade sizes.