OMGUSD trade ideas
OMG/USD breakdown in playThe crypto dropped significantly after the uptrend retest. It is pressuring the wl2, so a valid breakdown will open the door for more drops. It could approach the first warning line (wl1) if it will stabilize below the 150% line.
OMG is ready to make an entranceAs we can see, OMG has been stuck in a falling wedge and seems to me like an ABCDE correction. Rules of ABCDE correction dictate that there's a high probability of a breakout at termination point of Wave D.
Lets not forget that there are not one, but two airdrops incoming for OMG in the near future.
In short: We have Technical and Fundamental evidence to support a long position.
While all other coins have rallied OMG has been coiling up in this wedge. Now the Viper is ready to strike.
If we get a breakout the first target would be the highest point of the wedge for OMGBTC. Whereas OMGUSD should rally far more.
Godspeed
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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.
There is a possibility for the beginning of uptrend in OMGUSD Technical analysis:
. OMISEGO/DOLLAR is in a downtrend 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.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.
Trading suggestion:
. There is still 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= @ 9.60
TP2= @ 12.50
TP3= @ 15.00
TP4= @ 18.20
TP5= @ 20.20
TP6= @ 28.50
TP7= Free
There is possibility for the beginning of uptrend in OMGUSD Technical analysis:
. OMISEGO/DOLLAR is in a downtrend 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.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.
Trading suggestion:
. There is still 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= @ 9.60
TP2= @ 12.50
TP3= @ 15.00
TP4= @ 18.20
TP5= @ 20.20
TP6= @ 28.50
TP7= Free
OMG bullish divergenceOMG is a strong altcoin and has a beautiful chart.
There are bullish divergences on a weekly and daily charts.
Honte (Plasma for OMG) on it's way.
Bullish on this coin, not bullish on overall market situation.
Wouldn't like seeing it below current support.
OMGUSD - Eye on daily trendline - Anticipate long trigger Long entry will only be permitted if the support level is respected once again.
SL is below the low of previous bars.
Should an entry come into fruition, we have a massive R/R of ~28, targeting previous highs.
OMG 100%+ Profit PotentialOMG/USD is currently in a high demand area (white rectangle) the price range in that rectangle is between $6 and $7.5
Everytime it has been in this rectangle, it has shot up with at least 100%+ Profit. This is a highly demanded zone. Nevertheless, I still recommend scaling wisely as its not a Bull Market yet. But buying good chunk of it would be great accumulation.
Along with that, we also have RSI at its lowest since the release of the ICO almost 1 year ago.
Current RSI level = 26.68
Lowest RSI level before today = 28.93 in 1 April 2018, which after it reached that level, it went up over 140%
Another note: I added BTC prices in the chart, to show that OMG is demanded regardless of BTC's value.
Good luck guys!
OMG. A little long in this depressed fallAlmost a vertical drop in OMG should stop? In this we will help the price zone 5.8-6.2 $. Why did I decide exactly where the price will stop? See the global idea of OMG . This idea is a particle from the big picture that I see on this coin.
The rebound will be fixed in 3 price zones:
1) 7.05-7.3$
2) 7.7-8.3 $ - I will cover the most part of the position here
3) 9.2-9.7 $
Why did not OMG keep it?On 3days timetable it is clearly visible how OMG formed the head and shoulders, which is confirmed by volumes, breaking the basis and the most important price level 7.7-8.3.
Therefore, if the test of the price zone 7.7-8.3 or the basis in the area 9.7-10.4 will be successful - then I wait 3-3.5 $, and then possible and 1.4
OMG USD Possible reversalWe're hitting/just bounced of the 7.2USD support in March and February, Also less significant is the support line connecting the price early in 2017 with the wick in November 2017 which intersects the support at 7.2USD around this time.
Looking at RSI, it seems to be bouncing off the support at 30. which also indicates a possible reversal
OMG in range and losing -27.5% in 1 monthOMG does not raise its head in the last sessions and its losing -2.63% in the last 24H accumulating losses of -27.5% in the last 30 days. The pair has been moving in range since June 12 and the absence of buyers is evident, looking up we see many strong resistances for the price on the Pivot R1 and very close the level of $ 10 next to the EMA-100.
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 "Idea" Bull vs BEARSMACD on the daily ticked neg. while the 4h wants to crossover...mixed signals more bullish than bearish...Divergence on the 4h.
