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OmiseGo

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OMGUSD trade ideas

OmiseGo Breaking Above The TrendlineOn the 2nd of November, OmiseGo tested $5.5, which is the lowest price since August. While testing the low it rejected the 327.2% Fibonacci support level applied to the corrective wave after the downtrend trendline breakout. After rejecting the support at $5.5 OMG/USD went up, breaking above the downtrend trendline as well as 200 Moving Average. But then a sharp corrective wave has followed. On the correction, OmiseGo has rejected the uptrend trendline and the support formed on the 15th of September.  The price action suggests that a stronger growth could be expected in the short to medium term, although close above the $7.6 would add more probability to this scenario. The upside targets are based on Fibonacci applied to the corrective wave after breaking the downtrend trendline. First target  is at 127.2% - $9.17, while the second target is at 227.2% - $11.66. Break below the $5.5 support would invalidate this bullish outlook and could either extend the consolidation or send OmiseGo lower.
BITFINEX:OMGUSDLong
by CryptoPAMM
OMG swing tradeWith all the latest news I felt quite insecure about leaving funds in tether, so I was looking for a swing trade. It's been a strong week and whilst many coins have already increased significantly, I didn't want to buy at the top. I noticed OMG hasn't increased, but has had early signs of an uptrend continuation - I indicate this where the 50 day MA crosses over the 100 and maintains for several days. Entered the trade at approx $7.8 with a target in the $12-13 region. I expect to hold for 1-3 weeks on this one, let's see how it goes.
BITFINEX:OMGUSDLong
by kingretep
2