OMGUSD trade ideas
Long and short situation on OMGlong on the breakout of the top resistance of current equilibrium or close above the resistance.
Short now or the next day close
OMG 12% TriangleAnother nice triangle
Target will depend of the breakout power.
NOT TRADING ADVICE - MANAGE YOUR RISKS
Consolidation until 2.6561 breaks. Still long term bearish.Omisego is on a 2.9758 - 3.9500 Rectange pattern on 1D (ADX = 16.370, Williams = -54.385, CCI = -12.1505, Highs/Lows = 0.0000) that can trade sideways for another week until it prices a new Lower High on the 1W Channel Down (MACD = -2.130, Highs/Lows = -1.3533, B/BP = -3.8158). We remain bearish, TP = 1.4942.
OMG on the weekly..OMG possibly one of the most underrated tokens on the cryptocurrency market to date. Been descending on the weekly since April 30th. 50MA sits $6.85 which is a resistance (Purple Box). After seeing positive gains in the whole market in the last week, Possible pull back is in order, but seeing as BTC could break the $6700 area. We could be eyeing $4 (Blue Line)
About to break lower aggressively. Big downside potential.OMGUSD is now trading below the previous 3.2309 1D Support and a recurring pattern is seen on 1D that typically leads to a new Channel Down. Both 4H (RSI = 34.346, MACD = -0.063, Highs/Lows = -0.0720, B/BP = -0.1109) and 1D (RSI = 36.903, MACD = -0.273, Highs/Lows = -0.1659, B/BP = -0.5409) are actively bearish and we are aiming at an aggressive decline on OmiseGo towards a new Lower Low on 1W (early estimates put it around 0.300). Out short TP remains more moderate at 1.4942.
Approaching the target. More downside to come.Omisego has now crossed the 3.2170 1D Support and is approaching the first TP = 2.6561 on a newly developed 4H Channel Down (RSI = 30.591, MACD = -0.210, Highs/Lows = -0.1867, B/BP = -0.4322). 1D though will be now looking for an even lower Low (Highs/Lows = -0.5904), near our second TP = 1.4942. With the 1W Channel Down (RSI = 35.080, Highs/Lows = -2.3619) however aiming even lower (0.300), we remain bearish on the long term.
Lower High accomplished on 1W. Strong short.OMGUSD made a new Lower High on the 1W Channel Down (RSI = 36.430, MACD = -2.054, Highs/Lows = -2.2612, B/BP = -3.9676). The emphatic rejection on 1D (STOCHRSI = 19.672, Williams = -77.581) indicates that at least the 3.2170 support will be tested, where it is expected to gather more selling momentum. We remain short on Omisego with TP = 2.6561 and 1.4942 in extension.
OmiseGo (OMG) Shows Some Strenght After The Throwback!After the drop OmiseGo' shows us a pretty solid price action from the strong support and currently we are starting to fight with the round number ($4) and with the trendlines which are pulled from the 4h chart.
The bounce came from the trendline which is pulled from the bottom (2018 low) and second touch 23.08.
This trendline holds us almost perfectly! On the trendline area, we got after the drop a very nice candlestick pattern which is "Hammer" and doji after doji which also indicates that the trend may turn around.
Also, we have a nice harmonic pattern called "Cypher" which matches exactly with the trendline!
So, if the Bitcoin' starts to show us some bullish signs then we can be almost certain than OMG' starts to make higher highs!
Hopefully, this quick overview helps You out a little bit to confirm Your own analysis!
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OMGUSDThe purchasing area from $ 1 to $ 3 is very interesting for long-term trade
To play for a fall is dangerous only with a short stop
With such indicators we will not go far
OmiseGo (OMG) Bearish Divergence but TF 4H EMA is uptrend.OmiseGo (OMG) Bearish divergence at EMA 50 resistance but TF 4H is an uptrend.
Support
$4.67
$4.33
$4.26
Resistance
$5.18
$6.87
$8.61
OmiseGO Looks Higher#OMGUSD is seeing its 10 day cross over its 20 day and shows no real resistance til the 50 day. Bullish.
Critical point. Still short.Omisego is now testing the Lower High limit (4.64) of the 1D Channel Down (RSI = 49.533, MACD = -0.380). Technically the price should now resume the downtrend within the channel. If however the High breaks, be prepared for 8.44 as it is where the Resistance on the 1W Falling Wedge (green lines) is located (MACD = -2.073, Highs/Lows = -1.9711, B/BP = -4.8835). Until then the short targets on OMGUSD remain 2.6561 and 1.4942 in extension.
OMG MAPOMG is a coin i love to trade and one i love to hold long term. Made a lot of money on this one in 2017. Repeats its cycles over and over with nice clean charts..
One of my top coins to watch.
Here is your current wave set map with entry and exit targets
OMGUSD, BITFINEXTrading Signal
Long Position (EP) : 4.05
Stop Loss (SL) : 3.6
Take Profit (TP) : 5.65
Description
Confirm formed DPPO Buy at Day time frame following up trend. Trade setup with buy stop at 0.382 level (4.05) of FR and place stop loss below 0.618 level (3.6) of FR. Once the position was hit, place take profit (TP) at XOP level of FE(5.65).
