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OMGUSD trade ideas

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.
BITFINEX:OMGUSDShort
by InvestingScope
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.
BITFINEX:OMGUSDShort
by InvestingScope
10
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! Please, don't forget to LIKE! Thank You for your support! Have a nice day!
BITFINEX:OMGUSD
by VaidoVeek
2
OmiseGO: Scalping a Long Here Let’s take a look at $OMG and see what’s it’s been doing as of late. Above is a view of $OMG on the 3-Day chart. To say that the support line that I drew horizontally across the chart that you see above is strong in any way, would be an overstatement. However, if you look closely, it does appear as though the price has failed to move the price below this level. Although, it’s relatively untested and there are no indicators that appear to give any signs that things will be changing anytime soon. It appears that once the price through the long-term $7.50 support that was holding (it’s the overhead resistance now in the chart that you’re currently viewing if you’re following along on TV). Let’s Zoom in to the 1-Day Settings When you look more closely at the 1D settings, you can see that the price of $OMG, is indeed at a support point. Once again, this is only the second time that the price has tested this support, so there isn’t really enough credence to suggest that it’s strong other than its apparent repelling of the price after that zone was hit. ‘ The touching of the support twice before bouncing (slightly) on the second test shows a potential double-bottom play evolving in the future. Potential Gains The downtrend resistance that is directly overhead from where the price is right now, represents a 43.66% appreciation in the price: However, this is far from a guarantee. If the price falls through the support that it is at currently, then $OMG holders would be screwed. Fibonacci Chart If we draw the Fib chart where the ‘support is at currently’, which assumes that $3.50 is the 100% retracement point, then we get a solid visual of the chart for users to check out ^^. Currently, it has no major bearing on the price. Conclusion $OMG could be due for a bounce soon. However, this is far from guaranteed; so we need to make sure that we set a solid R/R on this, because a break through this support point could seriously spell disaster for holders.
BITFINEX:OMGUSD
by librehash
1