$OMG showing strong signs of recovery
Seems to me that OMG completed a 61,8 correction of the total upmove from the beginning.
This means, a new trend has started which should be leg 3 in a total of 5 legs. Top of the leg (which just started) might be somewhere towards 0,0045 (rough calculation).
To give this leg some good start, it needs first to break the yellow trendline and at a later stage the blue line.
The above mentioned target is long term, first of all we need to see a continuation of this recovery process.
Will update when I see its going in the right direction.
Update: cant change the chart anymore, I accidently deleted the fibo calculation on the Daily chart, but from bottom to top, we made a 61,8% correction.
This means, a new trend has started which should be leg 3 in a total of 5 legs. Top of the leg (which just started) might be somewhere towards 0,0045 (rough calculation).
To give this leg some good start, it needs first to break the yellow trendline and at a later stage the blue line.
The above mentioned target is long term, first of all we need to see a continuation of this recovery process.
Will update when I see its going in the right direction.
Update: cant change the chart anymore, I accidently deleted the fibo calculation on the Daily chart, but from bottom to top, we made a 61,8% correction.
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