Omusdtidea
OMUSDT: Potential Long Setup Following Elliott Wave ABC PatternHi everyone,
I'm looking at a potential long opportunity on BINANCE:OMUSDT , which appears to be repeating an Elliott Wave ABC pattern. As seen in mid-November 2024, the price completed a similar pattern: a strong initial rally (Wave A), a pullback to the 0.618 Fibonacci retracement (Wave B), and a final surge (Wave C) to the 2.00 and 3.00 extensions.
Currently, OMUSDT seems to be in the Wave B correction phase, potentially offering a good entry point. If the pattern holds, we could see a move towards the 2.00 Fibonacci extension (around $5.600) and potentially to the 3.00 level, exceeding the previous high near $5.100. I've taken a long position with a stop-loss set around $4.00.
Notably, a similar setup on SKLUSDT a few hours ago is currently showing a 15-20% profit, adding some confidence to this analysis. Good luck with your trades!
Disclaimer: This is not financial advice. Trading involves risk. Do your own research.
