OMGUSD trade ideas
$OMG Nearing a Completed Correction? #omisegoHere's my current OMGUSD Elliott Wave count. It's possible OMG could wrap this thing up & get back at it shortly.
OmiseGo short termOmiseGo (OMGUSD) has been dropping following the rally from the last few weeks.
If price drops down to the support level around $13, we can expect a new rally up to the resistance around $20.
If price breaks below the support level, the next support level is below $10.
At the moment it's best to wait and see what price does once it hits $13.
Good Luck,
CryptoTrendline
OMGUSD: At top end wider sideways channelThis coin swing sideways between roughly 7.00 and 20.80 this year and has tested the top end recently and is backing off a bit.
However, the shape of recent bearish candles and lower volume suggests this move south implies no more then some technical profit taking. When looking at Fibonacci's, ideally dips toward 14.15/12.60 should be picked up. 15.70 is first support however.
For now it seems likely that bulls will provide another attack to that 20.60/20.80 area after this mild move south. A move on better volume with a close over 20.80 suggests the channel will flip putting a target at around 33.00/34.00.
OMG showing some promise, but buyers need to show up. OMG showing some promise, but buyers need to show up. Wouldn't sell the farm for this one.
OMGUSD. Omise. Long. Divergence. Trigger
Hey. The trend is bullish. There is a divergence. The breakdown of the channel will be conservative trigger. From there it will be possible to buy it So g I have my own paid signal group, so if you want to join email me. Put likes and subscribe, so you will give me motivation and fight with my laziness. All the best
OmiseGo (OMGUSD) bears will soon crash the bulls’ partyThe 4hr tf chart of OmiseGO (OMGUSD) from ~$7.77 on April 1, 2018 till present is identified in this analysis as 3 wave move (corrective)Elliott wave structure that should end up as a zigzag once minute wave ((c)) is complete. Termination of minute wave ((c)) based on this analysis would also result in the termination of a Minor wave degree.
The implication of the above is that a sell off should follow that will either deeply retrace the uptrend from $7.77 or even close below $7.77.
The target area for the termination of minute wave ((c)) of OmiseGO (OMGUSD) is indicated by the horizontal green lines.
POI (point of invalidation) for this analysis (not shown here) is a price close above $23.57.
OMGUSD - breakout with Adam and Eve patter soonSafe entry would be waiting for the breakout and buy at the re-test.
OMG is not looking very bullish. $14 in the next 2 weeks?it will likely be retraced to 0.5 fib level ($14) by may 15th... many support line i have drawn also support my idea.
wave 5 might not go very far as we approach the bearish 3rd quarter.
OMG Forecast - 380 - 450 USD by EOYOMG is one of the most solid projects in this space. The fundamentals and the team are incredibly strong. Technological breakthroughs like their white wallet SDK, Plasma, a decentralized exchange and the ability to stake your own tokens will make OMG go mainstream.
1. Target will be around 80 to 90 USD
2. Target will be 380 - 450 USD
OMGUSD break imminent One of the only charts I have been watching today just because the range is so tight! A break of either of the blue lines will give us some clues in which way this is headed. Blue lines are taken from the high and low on the hourly TF and the yellow lines are from the 4H. Take some time and go look at the entire tightening range for yourself on the 4H. I am leaning bullish but am not entering a position until we see a break of the local top. Be prepared from some volatility because with a range this tight I'm sure we will see a big move play out. It is worth mentioning that if we break below $17.2 we will dump, short accordingly.
OMGUSD- Bearish gartley formation and cup-handle patternOMGUSD- Bearish gartley formation and cup-handle pattern
OMGUSD - Scale in orders for longTools used:
Fibonacci speed resistance fans
Chande Momentum
RSI
VWMA (Length: 8, length of 20 on hourly)
OmiseGO popped up to $17 and quickly dropped. Currently forming a bull flag, looking forward to a confirmation for a continuation of it.
Regression channels:
Arguments for a long position:
Taking the traditional method of finding target price of a bull flag, OMG should hit $20 after breakout
ATH is just around $40
Bull flag pattern
Strong FA, both team and community wise; verifiedtopics.com
Re entering main (green) regression channel after it failed to break out under it. (Poor correlation ratio at ~.5 however)
Arguments for a short position:
Currently in a correction phase after a huge rally
Top of bull flag channel, expecting it to drop again in the flag channel
Seems to have failed to break out from cyan regression channel
Weakening momentum
RSI making a hns pattern (lol)
Safest move would be to scale in long orders from $10 onwards as BTC is still grappling with its identity crisis.
OMG facing critical resistanceOMG is at a critical resistance level. It is making steady but seemingly stronger moves higher, however, this could be cut short if the broader market turns to the downside. If OMG breaks through this resistance I think the next stop will be $25.00. If you're in OMG already I think it's a good place to be. If you are looking to get into OMG, unfortunately, I don't see a good set up right now. Entering here would be pure gambling. Although it looks very strong and has some of the best fundamentals behind it in the space, it could easily be dragged down with the market if it lets go.
You can see a previous trade of mine still on the chart: orange is my average buy price, red my stop-loss, green my take profit levels. I had less confidence in the market when I set those levels. I bought wisely (at the bottom of an ascending triangle); the pattern presented itself, I acted on it and, lucky for me, it was successful. I ended up having to buy back in at $14.00 however when a symetrical triangle pattern formed, signifying the likelihood of continuation to the upside. I'm leaving it there as a reminder to myself of how quick things can change in these markets.
As I'm in this coin already I'll update this as things change. Let me know your thoughts. Good luck trading people.
OmiseGO Upside potentialOmiseGO (OMGUSD) rallied this morning and reached the resistance level around $20.
If price starts dropping down we can expect the support around $13 to hold and the rally to resume.
If price continues to trade above the resistance level and it becomes support, we can expect it to reach new all time highs.
There is a possibility that the resistance level around $25 holds price, but ultimately it looks like it's heading to new all time highs.
Good Luck,
CryptoTrendline
omise go new targethopsss w or more than w
targeting 25 usd, we called when its 9 and 100% already
trade safe
