Omisegousd
OMGUSD: Rectangle on 1D identified. Sideways until (S) breaks.Omisego is trading sideways within a 1D Triangle (RSI = 53.725) under High Volatility (ATR = 0.2020) that keeps the price within a 2.9590 Support and 3.8740 Resistance. Due to the underlying long term bearish trend on the 1W chart (RSI = 37.359, MACD = -2.090, Highs/Lows = -0.1851, B/BP = -1.9305), shorting every move near the Resistance is better suited than a full scalp. That is why we remain bearish on OMGUSD with TP = 2.6561 and 1.4942.
OMG/USD descending trendlineBreaking this descending trendline would be bullish in my opinion. Stochastic RSI and MACD are looking good to try an upward movement. I doubt this can by typified as a falling wedge but I included the lower line nevertheless.
OMGUSD: 1D Falling Wedge. Retesting the support.Omisego gave the expected bearish 1D candle that tested the 2.9640 support creating a Falling Wedge (RSI = 43.877, MACD = -0.127, Highs/Lows = -0.0320, B/BP = -0.0909). This should technically seek a Lower Low at 2.6561 (first TP) in the coming candles, but the 2.9640 1D support needs to break as so far it has been rejected twice. Even if the Wedge breaks, any upside is limited to the 1W 0.500 (4.0367) - 0.618 (4.2860) Fibonacci retracement. Longer term TP = 1.4942.
OMGUSD: Still sideways. Approaching a bearish break-out.Omisego remains neutral both on 4H (RSI = 50.314, Highs/Lows = 0.0000) and 1D (RSI = 47.725, Highs/Lows = 0.0000) as it approaches the 1W Channel Down limitation. It will either be rejected towards 2.000 or bounce to the 0.500 - 0.618 Fibonacci retracement level. In both cases 1W is a strong sell (MACD = -2.179, Highs/Lows = -0.6889, B/BP = -28843) and should make a Lower Low. Our TP is intact for OMGUSD at 1.4942.
Compliance to the 1D Rectangle. Sideways until support breaks.omOMGUSD is following the projected 1D Rectangle pattern (RSI = 46.113, ADX = 10.117, Williams = -53.227, CCI = -22.3854, Highs/Lows = 0.0000) trading sideways within 2.9725 - 3.8810. The pattern however has approached its completion point as it meets with the Lower High limit of the 1W Channel Down (MACD = -2.151, Highs/Lows = -1.0226, B/BP = -3.146). A downside break-out is expected once this support breaks so we remain short on OmiseGo with TP = 1.4942.
Consolidation until 2.6561 breaks. Still long term bearish.Omisego is on a 2.9758 - 3.9500 Rectange pattern on 1D (ADX = 16.370, Williams = -54.385, CCI = -12.1505, Highs/Lows = 0.0000) that can trade sideways for another week until it prices a new Lower High on the 1W Channel Down (MACD = -2.130, Highs/Lows = -1.3533, B/BP = -3.8158). We remain bearish, TP = 1.4942.
About to break lower aggressively. Big downside potential.OMGUSD is now trading below the previous 3.2309 1D Support and a recurring pattern is seen on 1D that typically leads to a new Channel Down. Both 4H (RSI = 34.346, MACD = -0.063, Highs/Lows = -0.0720, B/BP = -0.1109) and 1D (RSI = 36.903, MACD = -0.273, Highs/Lows = -0.1659, B/BP = -0.5409) are actively bearish and we are aiming at an aggressive decline on OmiseGo towards a new Lower Low on 1W (early estimates put it around 0.300). Out short TP remains more moderate at 1.4942.
Approaching the target. More downside to come.Omisego has now crossed the 3.2170 1D Support and is approaching the first TP = 2.6561 on a newly developed 4H Channel Down (RSI = 30.591, MACD = -0.210, Highs/Lows = -0.1867, B/BP = -0.4322). 1D though will be now looking for an even lower Low (Highs/Lows = -0.5904), near our second TP = 1.4942. With the 1W Channel Down (RSI = 35.080, Highs/Lows = -2.3619) however aiming even lower (0.300), we remain bearish on the long term.
Lower High accomplished on 1W. Strong short.OMGUSD made a new Lower High on the 1W Channel Down (RSI = 36.430, MACD = -2.054, Highs/Lows = -2.2612, B/BP = -3.9676). The emphatic rejection on 1D (STOCHRSI = 19.672, Williams = -77.581) indicates that at least the 3.2170 support will be tested, where it is expected to gather more selling momentum. We remain short on Omisego with TP = 2.6561 and 1.4942 in extension.
OmiseGo (OMG) Shows Some Strenght After The Throwback!After the drop OmiseGo' shows us a pretty solid price action from the strong support and currently we are starting to fight with the round number ($4) and with the trendlines which are pulled from the 4h chart.
The bounce came from the trendline which is pulled from the bottom (2018 low) and second touch 23.08.
This trendline holds us almost perfectly! On the trendline area, we got after the drop a very nice candlestick pattern which is "Hammer" and doji after doji which also indicates that the trend may turn around.
Also, we have a nice harmonic pattern called "Cypher" which matches exactly with the trendline!
So, if the Bitcoin' starts to show us some bullish signs then we can be almost certain than OMG' starts to make higher highs!
Hopefully, this quick overview helps You out a little bit to confirm Your own analysis!
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Thank You for your support!
Have a nice day!
OMGUSDThe purchasing area from $ 1 to $ 3 is very interesting for long-term trade
To play for a fall is dangerous only with a short stop
With such indicators we will not go far
Critical point. Still short.Omisego is now testing the Lower High limit (4.64) of the 1D Channel Down (RSI = 49.533, MACD = -0.380). Technically the price should now resume the downtrend within the channel. If however the High breaks, be prepared for 8.44 as it is where the Resistance on the 1W Falling Wedge (green lines) is located (MACD = -2.073, Highs/Lows = -1.9711, B/BP = -4.8835). Until then the short targets on OMGUSD remain 2.6561 and 1.4942 in extension.
Rebound successful. Now resuming the downtrend. Short.OMGUSD has followed the curve pattern making a new Lower High within the 1D Channel Down (RSI = 35.624, MACD = -0.624, Highs/Lows = 0) and will now either trade sideways to 4.000 in order to exhaust the consolidation or test 2.6561. In both cases the underlying trend will remain bearish. TP = 2.6561 and 1.4942 in extension (but under circumstances for which updates will follow).
Target hit. Approaching a support.TP = 4.4846 hit, as the 1D Channel Down (MACD = -0.838, Highs/Lows = -1.1547, B/BP = -2.4051) continued its decline and OMGUSD now looking to price the Lower Low near the second target at 2.6561. With RSI on 1D oversold at 20.599 along with another 4 indicators, it is not unlikely to see a minor rebound (within the channel down) before hitting the target.
Channel Down on 1D. Short.OMGUSD is trading on a clear 1D Channel Down (RSI = 28.391, MACD = -0.560, Highs/Lows = -0.8476, B/BP = -1.2255), which since pricing its Lower High near 7.000 still has significant downside potential, despite the oversold STOCH, STOCHRSI, Williams. Our position on Omisego is short with TP = 4.4846 and (under circumstances that will be updated on the next post) 2.6561.
OMGUSDDouble top or triple bottom?
The triple bottom is a simple reversal figure of technical analysis which consists of three minima and presages a price increase
It all depends on BTC if you manage to hold above 7800 then the OMG will form a triple bottom and you can expect the test of the line and the channel resistance
If Bitcoin does not stand then a breakdown of the support line will follow and a double top will form with a break through the support line
OMG/USD - Easy profit or not?Hello everyone, I'm back with my new trading idea. As you can see, OMGUSD has touched the descending support ( BLUE LINE ) few times in the past 3 months. Everytime it touched the support, the price went significantly up. RSI is 34 , which is near the oversold level. In my opinion, we can expect the price to go up in the next 2-3 days. Maybe it could drop a bit lower, but this is still a good time to get on the train :)
Have in mind that I'm still a beginner and this idea might fail quickly after posting this idea. Always do your own research before getting in any trades. Good luck. :)
Please tell me what do you think about this idea in the comments and if you agree with me, please rate it up :)
There is a possibility for the beginning of an uptrend in OMGUSDTechnical analysis:
. OMISEGO/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (7.00 to 5.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (7.00)
Ending of entry zone (5.50)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 8.72
TP2= @ 9.60
TP3= @ 11.68
TP4= @ 14.90
TP5= @ 18.20
TP6= @ 20.09
TP7= @ 28.50
TP8= Free
There is a possibility for the beginning of an uptrend in OMGUSDTechnical analysis:
. OMISEGO/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (7.00 to 5.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (7.00)
Ending of entry zone (5.50)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 8.72
TP2= @ 9.60
TP3= @ 11.68
TP4= @ 14.90
TP5= @ 18.20
TP6= @ 20.09
TP7= @ 28.50
TP8= Free
