Long
Equitable Setup OMG/BTC Confluence
OMG/BTC is developing a lot of confluent signals right now.
First, on the daily:
- MACD bullish divergence ushered in a nice rally showing bullish convergence on the follow through
- Peak of rally formed X on a potential bearish crab or butterfly harmonic pattern
- A and C of harmonic have the potential to form the third rising valley, ushering in the C to D wave
- C on the harmonic corresponds to a historical support/resistance where the chart made a major peak in a previous cycle
Then, on the 4 hour chart:
- Bullish divergence on both oscillators (RSI & MACD) ushered in the A to B wave of the price harmonic
- Heading towards C about to go negative on MACD, looking for a negative peak of MACD island at C for a mostly positive C to D wave
I think trading C to D is very equitable and I will be setting:
Entry: 0.00017832 - 0.0001975
Stop Loss: 0.00017347
Take Profit #1: 0.00023607
Take Profit #2: 0.00024624
Take Profit #3: 0.00027349
Take Profit #4: 0.00033471
This is not financial advice and I am basically an idiot fingerpainting. I'm not at all telling you to do what I do.
First, on the daily:
- MACD bullish divergence ushered in a nice rally showing bullish convergence on the follow through
- Peak of rally formed X on a potential bearish crab or butterfly harmonic pattern
- A and C of harmonic have the potential to form the third rising valley, ushering in the C to D wave
- C on the harmonic corresponds to a historical support/resistance where the chart made a major peak in a previous cycle
Then, on the 4 hour chart:
- Bullish divergence on both oscillators (RSI & MACD) ushered in the A to B wave of the price harmonic
- Heading towards C about to go negative on MACD, looking for a negative peak of MACD island at C for a mostly positive C to D wave
I think trading C to D is very equitable and I will be setting:
Entry: 0.00017832 - 0.0001975
Stop Loss: 0.00017347
Take Profit #1: 0.00023607
Take Profit #2: 0.00024624
Take Profit #3: 0.00027349
Take Profit #4: 0.00033471
This is not financial advice and I am basically an idiot fingerpainting. I'm not at all telling you to do what I do.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.