OMG ready for next wave?
Updated
OMG has seen a deep retrace (0.786 fibo) after its major bull run (left chart). It already broke out from this retracement and it seems to be in an upwards channel again (upper right). RSI has seen a cross and is going up, and MACD is turning green on the daily.
It already had one nice wave, corrected fully and looks like it is starting the 3rd wave now after some positive news was shared today. The brake-out has also already retraced between 0.50-0.618 but might still reach this area for a potential entry (lower right). A lot of this probably depends on whether or not BTC is keeping its bull run up. But entry here and stop loss below the trendline seems a good option for me.
It already had one nice wave, corrected fully and looks like it is starting the 3rd wave now after some positive news was shared today. The brake-out has also already retraced between 0.50-0.618 but might still reach this area for a potential entry (lower right). A lot of this probably depends on whether or not BTC is keeping its bull run up. But entry here and stop loss below the trendline seems a good option for me.
Note
OMG could not properly start leg 3 because of the bull run of BTC. But it is now back in the channel and it can stil reach the top trendline if volume picks up again.Trade closed: stop reached
Got stopped out last night during the btc bull run.
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