OMG - Elliot Triangle completed - Uptrend about to startDear community,
OMG USD caught our intention due to its sane corrective behavior on top of strong fundamentals on the technology side.
Assumptions:
- Completion of Elliot Wave triangle.
- In last segment of resistance (see Pitchfan)
- Triple bottom within the triangle
-RSI oversold and at bottom
- Great R/R ratio
Stop Loss: $7.6
SL to be readjusted to break even after 1st is achieved and so on.
Target profits:
TP 1 --> $11
TP 2 --> $14
TP 3 --> $17
TP 4 --> $28
This forecast is not a financial advice, study, exercise yourself, put into question your reasoning.
Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai
twitter.com
OMGUSD
OmiseGO (OMG)OmiseGO (OMG)
After break out symmetrical triangle fail to reach $28 target of this pattern after that creat to us Rectangle channel and move on it the good this we have it from $8.XX and gained good profit at last wave.
So what now is Omg ready for a new green wave is ready to create new ATH this year?
This can happen if market back Bullish again
but from chart we can see
Omg have a good Demand Area At $ 9/6
Omg touch $9.55 "Uptrend" and bounced, really we was wait for $7.75 as the entry but anyway our long trade from $8.XX still active
As long Omg still have more to do, and the bullish market will help her to do that
For you if you look to buy
$11.5
$10.75
$8.5
this levels is good as buy point for long-term
your Stop if Omg close weekly below $6
at this case Omg back under darkness levels
Your targets
$12
$15.20
$21
Invest more after breakout Rectangle channel
Targets
$26
$30
Invest more after passed Old ATH
Targets
$37
$41
$46
Mega_Bullish
$53
$66
Invest:5%
we ask Allah reconcile and repay
OMG
Omg-Have-a-trip
OMG-what-That-mean
OMG Wants to break $ 9.26OMG has lost 0.86% in the last 24H and $ 3 USD in the weekend drop, the price crossed the Bullish trend line that is traced without problems, at this time the price is at $ 9.29, support that has been kept the last two days, if this support ( two months minimum ) is broken, the level of $ 9.00 would be the next support to visit, below, S1 at $ 8.04 is the next important level. The indicators, despite showing oversold, continue to point down so we could see this support broken very soon.
OmiseGo (OMG) I'm bullish on this project. Two mainnets coming out - Cosmos and OMGPlasma mainnet.
Cosmos "Hardspoon" 1:1 for OMG holders.
DEX capable of 1bn+ trades/s.
Mobile wallet (I think Ethos wallet may be better though, Ethos and OMG team close so maybe something there..), real implementations already in use, real partnerships.
Very professional for a crypto project.
Good chance Plasma solves Ethereum scaling issue.
OmiseGo:
cdn.omise.co
Plasma:
plasma.io
OmiseGo Price Might Jump x10OmiseGo continues to reject the uptrend trendline, with the most recent touch occurred just yesterday, when it hit $9.2. This is also an 88.6% Fibonacci retracement level of the previous wave up.
If price stays above that support, trend reversal could take place. An it is very interesting that the nearest strong resistance is seen only at $88 area, which is almost x10 growth potential. Resistance is confirmed by two Fibs, first applied through the all-time high, and second applied through the current corrective wave down after the downtrend trendline breakout.
Nevertheless, the downside risk remains and will only become valid if OMG/USD will close below $7.1 low, established back in February. Only, in that case, the downtrend might continue.
OMGUSD 20%-30% Short OpportunityThere's a very lucrative opportunity walking around in your neighbourhood.
Now are you gonna be the one who waits patiently for it to knock on your door or are you gonna be the one who grabs it by the collar and reels it in?
Now on to the technicals:
Since BTC broke a major support line that has held for the better part of the year. Now even Perma-bulls have no alternative but to accept the obvious fact that we are in a bear market at least for the mid term. OMG has been in a Triple Three Corrective Wave for this entire year and is finally on its last leg.
This gives rise to a very lucrative opportunity and I'm all up for such easy trades.
Let me be very clear. This is a position trade. Meaning we only start and end the trades if it comes into our scaled order zones. Do not go ALL-IN. Only the orders that get executed go on for this ride.
Enter Short in the range of $9.94 - $10.42
Conservative Target: $8.0 - $8.5
Aggressive Target: $7.4 - $8.0
(Use protection, a Trailing Stop)
I'm expecting the green or blue box to hold. If both fail then your guess is as good as mine for the bottom targets.
Now let me be the Devil's Advocate and talk about why these targets might be challenging.
I don't expect the whales to just gives us the BTC targets of 5k-6k.
I expect many bull traps along the way. That means OMG too will spike occasionally and make failed rallies (which is why the protection).
The most important obstacles is that OMG has two airdrops coming up. If the dates are announced in between of our trade then it will most definitely spike and take our stop out.
Godspeed
________________________________________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
OMGUSD could rise...Hello guys,
in this period the volatility for all the biggest cryptos is particularly low end this setting is consistent with a rise of all sector.
In this environment the only out of tune is volume, low for all the principal cryptos, exepting EOS.
Looking at different chart I've focused my attention on OMGUSD: it is trying to complete a 1-2-3 formation.
In fact if it's able to break $12.40/50 area, corresponding to a resistance area and the highest point of the formation, it could surge with first target
to $14 where we can find daily 200 MA and then to $14.8/$15 area, where there is a resistance area.
Indicators are setted to drive the increase.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Bullish move by OMG, expect a uptrend on coming daysOMG seems to have bottom up, expecting a uptrend based on cross over indicator and tech news expectation.
OmiseGO at supportOmiseGO (OMGUSD) has been dropping since the beginning of this month and is now back to the support level around $9,00.
If price reacts and rallies from the support area, we can expect it to reach the resistance area around $13.
Once price reaches $13, we can expect some reaction to the downside.
If price continues to drop, we can expect the drop to continue to around $6,00.
Good Luck,
CryptoTrendline
OMG geometric wave consolidation pattern forming
As you can see from this technical chart analysis, we are converging into a triangular consolidation pattern. This is common across the board with many other coins. Once we reach a holding pattern look for a strong bull run across the board and to the moon in the above chart for specific figures. In the short term looking at retracement to the $9.80 range with staggered buy orders set on the way down. Expect a strong influx in volume leading up to the release of the wallet SDK and Plasma Cash in Q2. Good luck and do your own research.
OMGBTC (OMISEGO Token) Ready, Set…………..!OMGBTC (OMISEGO Token) 05/26/18, 8:15 PM EST, by Mike Mansfield
Good evening, trader friends! Thanks for stopping by. No, no, no, I am not here to wrangle a thumbs up from you on this one. However, if you just love any of the other forecasts, feel free to like away! ;-)
OMISEGO sounds a bit like what “oh my gosh” would be in another language.
Perhaps you can relate to the following statement: "Sometimes I literally “know” what an outcome of a chart will be with a high degree of clarity, probability, and ultimately accuracy." However, this is not one of those times. I can rationally make the case for several outcomes. That is not something I love….but since someone asked for this, I’ll map out the 3 patterns and their likely paths and change of trend times and price areas to watch for.
BOTTOM LINE: UG! We have patterns within patterns, but the cycles look good!
Pattern-1 is long-term neutral:
Large triangle wedge pattern (lime green and dark red lines) may be forming. If correct, it is unfinished and will have at least one, possibly two, more legs down toward the red long-term support trend trend-line, before we can say for sure if the pattern will resolve to the upside and moonshot, or tank into crypto oblivion.
Pattern-2 is medium-term bearish. Maybe:
Bearish rising wedge (cyan blue trend-lines) lines are converging in an upward direction. But it’s not super perfect pattern, as they sometimes look. Rising wedges typically resolves to the downside in a significant way. Moreover, OMG broke the lower support line at the recent May 23 low, which likely means eventually lower prices.
Pattern-3 is short-term bullish:
Falling wedge (yellow downward trend-lines) is short-term bullish and no matter what,
a cyclical bounce is due now based on the two quite accurate cycles thus far.
CYCLES:
Two nicely aligning cycles lows are nesting now (making a low). OMG should have a tradable rally to the green downtrend line.
Green cycle moving up and due to peak June 18,
Green cycle bottoms again July 15th.
Pink cycle is also moving up. Both the pink and green cycle are both due to top around August 10 also, =/- 2 days.
INDICATORS:
Klinger Volume Force is in a wedge. It also supports the idea that the eventual breakout, up or down, should be big.
MACD is rounding in line with cycle lows due any day now.
SUMMARY:
Short-term pattern and cyclical are bullish for a bounce, or more, perhaps until mid June.
Then, another selloff back to the lower cyan support trend-line, in alignment with the cycle low of the shorter-term green cycle, while the larger pink cycle is
moving up.
OMG with then either breakout the upside in line with the pink cycle moving up until about August 10th, while the pink longer-term cycle is also moving up and
blast off.
If the breakout does not happen by the peak of the Pink cycle (Aug 10th), then OMG is very bearish, and the bigger triangle/wedge will likely end badly for OMG.
If OMG breaks out to the upside between now and June 18th, then it might retest the breakout line or pullback around July 15th then have a cyclical peak
August 10th +/- 2 days.
POTENTIAL TRADE:
Consider looking for a short-term cyclical long trade. Lower risk area could be at the first higher swing low once a 34-50 bar EMA
average (or something better) turns up and price is also closing above the average. If The trade doesn't move nicely after the first or second pullback on a 240 minute chart, then the outlooks would be quite bearish short-term and long-term.
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers!
Michael Mansfield CIO
OmiseGO, a Mid - Longterm analysis [OMG/BTC]A Mid-Longterm look on OMG/BTC
One of my favourite projects, with a cyclic nature will hit back soon. A common cycle is sub $10, then above the $18+ region.
Here we want to pick up OMG around a support region after it has some good buyback volume after selling volume thins or shakeout occurs.
In this trade I use:
~SMA 30.
~Trendlines.
~Horizontal support lines.
~Volume for confirmation of bleed.
~RSI.
~Fibonacci retracement to line up with targets of trendlines / to see if these regions naturally occur.
~Stoploss / sell zone on a fakeout of a buy in.
Want to join a private trading group?
PM me.
This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
Thanks for reading, a follow on tradingview and a like would be greatly appreciated.
1k followers ~ FACE REVEAL
Xander
OMGUSD (OmiseGo) wave analysis update: 4hr tfMy previous post on OMGUSD (4hr tf) can be found here:
It was mentioned in the previous post that a price close below ~$12.50 favored a bearish scenario for OmiseGo (OMGUSD). Price swing downwards from ~$17.82 on April 26, 2018 is therefore identified in this analysis to be a triple zigzag Elliott wave structure (W-X-Y-X-Z) that is not yet complete as we are in the last leg of the structure i.e. Wave Z.
The horizontal red lines on the chart from the previous post mark the region that is still favored for the termination of wave Z, before any bullish momentum can be sustained by OmiseGo (OMGUSD).
The point of invalidation (POI) of this analysis is a price close above ~$16.05 at which point OmiseGo (OMGUSD) would have invalidated the proposed Elliott wave structure.