OMGUSD trade ideas
OMG - Good time to add or further correction?OMG already at .618 fibs, will it dip further or good time to add?
Omisego Daytrading Buy OpportunityFalling wedge
Break resistance trend line will give us a buy opportunity
OMG - Elliot Wave countI believe that we have complete the 5 waves and that we should expect a correction at this stage, then the upwards movement should resume. The wave A should finish with a bounce from MA100 and wave C should finish at the support level of $7.25
As always, I'm fairly new at this, any feedback is really appreciated.
Good trading to all.
OMGUSD AB=CD Pattern?My crystal ball gave me this reading this afternoon ;)
In all seriousness tho, please don't trade off my doodles. Only one of untold possible scenarios.
I'm keeping a close eye on BTC for some overdue corrective price action which could have a negative effect all the alt markets.
Inverse head and shouldersA small time frame inverse head and shoulders neckline has been breached.
The Neckline target will in turn breach the neckline of a larger time frame inverse head and shoulders with a neckline target of $11.7
A close above $8.61 on the daily chart will make a new higher high and confirm a change to an uptrend.
Failure to breach neckline resistance and a breach of the red long term trend line will confirm downward symmetrical triangle pattern continuation instead.
OMGUSD: Bullish cycle confirmed!Yesterday OmiseGo finally closed behind the price level of 10 USD and thanks to it, it escaped the long term downtrend triangle.
It seems, that OmiseGO has quite long trading cycles and right now we are on the whole beginning of another uptrend channel. If OMG stays in the same bullish mood, as it was in august, we could easily hit 20-25 USD/OMG until the end of December!
Omisego Daytrading Buy Opportunity
On a larger timeframe OMG is in a channel
On the 15min TF it broke resistance with good volume earlier today, found resitance on the 10$ mark and retested previous resistance that became support
Volume is declining and it's consolidating at the moment
IF 10$ resistance break we got a buy opportunity
TP should be 10.5$
OmiseGo ConsolidationThis market was struggling to perform compared to other instruments over the last few months. In August OmiseGo was on fire. We tagged the major fibo resistance (a shorting level where longer term market participants decide to stay or leave the market) and collapsed. This is a sign of weakness, even tho we formed a bullish wick. I can see the uptrend line getting busted and visiting the edge of the major classical support at $5.33. Depending on how price action goes, we may see max consolidation at $4. Be advised, trading below max consolidation could take this market down below $2 before it starts pushing upwards.
Alternatively, if we break the descending channel, we'll want to get long!
OMG LONG - IF..THENAfter having seen a huge spike to the downside on many crypto pairs, chances are high that the month of December will present us plenty of decent buy opportunities.
Having a look at OMG, my area of interest is $10. If we see a clear break and close above the point of validation, the continuation would be confirmed. BUT there is also the possibility of a further move to the downside. That's why I'll be waiting for a break and minor retest, as I'm not interested in taking any shorts.
The projected target area is $16-$16.50
OmiseGO - New targetsOmiseGO has been correcting and bottomed at 61.8 fib level and finding support at historical uptrend as my previous analysis have been forecasting:
Reversal signals:
- Daily MACD has crossed, crossing the 0 line will be a confirmation
- Price has break 4hr - MA100 and keeping above.
- Price is bouncing from historical uptrend and acting as huge support.
At the moment we are facing resistance of daily MA50 - MA100.
We could retest historical uptrend and 4hr MA100
Breaking above daily MA100 we could see these targets:
1st target: 11.40
2nd target: 18.78 (1.618 fib extension )
OMG buy opportunity?look chart
OMG "sits" on fibb level 61,8%
MACD turning from negative to positive but still below zero!
RSI at 48 (under 50 is negative)
will the price drop to lower levels and touching decision lines?
or will it rise clearly above the fibb level?
just wait and watch! I recommend to wait at least one 4h-bar for confirming!
One hasn´t to be the first on the train, also not the last. But to be sure the train isn´t heading to the wrong direction better wait a short time.
@Bitfinex what is going on here?This is the kinda crap that gives crypto exchanges a bad name. Basically, I suspect, that everyone who had a leveraged long position on OMG would have been liquidated or maybe stopped out IF their orders were filled but I doubt an event of this magnitude will fill stop orders... Luckily I was not one of them.
What does the community think of this?
This smacks of rigging Bitfinex. How do you plan to stop this from happening in the future?
Short term target OMG Cuz that is how the trend is moving right now. if it breaks the line it will go much higher.
OMG CorrectionAs You can see, with Correction on BTC, we've got the same on OMG. We need to observe moves on both currencies.
