OMGUSD trade ideas
Omise go - A bright future ahead. Good evening traders, lets quickly jump into our OMG analysis.
As we can see on our 4h chart, omg is making lower highs and lower lows, the price just broke the 50ema and now its testing it as resistance.
On the 12h chart, we have already a higher high and the price might wanna make a higher low, the 50 ema is working as support for now, we need look out for the price action on the 4h timeframe now.
A good reload zone is marked on the 12h chart channel.
OMG is a very nice token with good fundamentals, so there is no need to use stop loss here unless you are a day trader.
For short term targets , 20 usd is only fair.
Medium term, 30 usd .
And for long term, i dont think its any absurd if we see OMG above 50 usd this year.
A break and close above our downtrend (green) will give us confirmation that omg is ready to reach higher levels again.
The volume is decreasing so i guess there will be some action very, very soon.
Good trades everyone.
I don't know how I missed this the first timeNow is the time to go long. My bad on the shitty analisys the first time. Thats what happens when II rush but if youre still holding from first analysis you'll be alright. just small draw down
OMGUSD Bearish ButterflyPrice is currently at 61.8 from all time high. At this level we have a Butterfly pattern completing at 1.272 ext. As described in video you can get short with a healthy R:R. Make sure to have a stop in place.
PER REQUEST! FIVE-DRIVE PATTERNThis TA was made per request by one of you.
Nice Risk reward ratio if you're day trading this.
I don't know anything about this fundementally. But I only trade what I see from the price action anyways.
Good Luck!
OMG - daily chart about to indicate future direction05/03
Weekly chart: From the ATH, OMG has formed a second top, which is currently struggling with an important resistance. As a result, it has sarted to pull back. If bulls cannot move above that last top, the chart might start forming an equilibrium pattern.
Daily chart: The daily higher highs hasn't been lost yet - support to be defended is 16,24 (yellow line)
Now bulls are attending to form a higher low (blue square)
4H chart: bulls attempt to break the downtrend, need to see follow through.
OMG - Patience Pays Off - Swing Trade SetupOverview:
As the market continues to improve we have had OmiseGo on our radar since the 28th of February. It appears patience has paid off as we are getting a nice reversal signal in the buy area we mentioned in our previous article. We are looking to position ourselves for a longer term trade with a preliminary target of 25.
Technical:
Falling just short of our initial target level we have pulled back into our buy zone and have bought at the 17.35 and 18.59 levels with a preliminary target of 25. The 1 day bar is forming a nice reversal signal and though there is about 51/2 hours left the market has been relatively neutral providing limited risk in entering here. Again I am not using stop losses to manage trades, I actively manage with alerts. A fake break could result in testing the lower level 15.50 which is the 0.382 retrace of the overall bullish move from the Feb low. Because it is still possible to test this level before moving higher I have decided to enter in three positions and have allocated funds accordingly. If we test the lower level I will have no issue adding there and would look for a reversal signal prior to entering. There is still the possibility that we could test the 13.65 level which is the 0.618 retrace of the overall bull move, and though unlikely we can not discount it. A pullback to this level would surely bring in buyers and I will be one of them. We are looking at the 22.33 level as a resistance level and may reduce position there based on price action.
Summary:
Showing patience in active markets is one of the keys to successful investing and trading. Keeping our emotions at bay and not worrying about missing an opportunity often opens the doors to new ones. Keep in mind that OmiseGo is a core holding and whether we pulled back or not was insignificant to the longer term perspective. As we start to see the market in general favoring the bulls we will continue to look for opportunities to trade and not try and force trades. Many times we miss trades and the best thing we can do is be patient and look for opportunities elsewhere.
There is always a good trade somewhere, do not confuse this with trying to be a good trader. Again these are ACTUAL TRADES NOT THEORETICAL ONES.
OMGUSD has limited upside potential: Short (4hr) tf analysisOmiseGO (OMGUSD) trended downwards after it hit a high of~$24.50 on Jan 7,2018 to the price low of ~$7.00 on Feb. 06, 2018.
Price swing from the high of $26.07 on Feb. 13, 2018 to the low on Feb. 06, 2018 is described in the 4hr tf as a corrective (A-B-C) Elliott wave structure (i.e. a correction). Price swing upwards from the low on Feb. 06, 2018 is currently completing another intermediary wave that has been labelled so far as another 3wave move (W-X-Y) upwards, although not yet complete.
Projection of wave Y (in red) = 61.8% wave W (in red) gives a price target of $22.85. This is close to the target area indicated on the chart (between $23.26 and $24.52), and therefore increases the chance of OMGUSD reaching the target area.
The implication of entire Elliott wave structure upon completion of WXY (in red) is that OMGUSD should sell off with price reaching or moving below the low made on Feb. 06, 2018 (i.e. $7.00).
POI= Point of invalidation (Price should not close above $26.07 for this analysis to remain valid = $26.07) after which analysis would be revised.
OMG/USD Volume Analysis Prediction 2/27/2018Hi, friends.
OMG coin is stronger than the market (BTC and ETH) for now. We see a clear bullish initiative.
The uptrend will continue its movement. Better way for now is to wait a correction wave to the max volume (P O C) of February and then buy.
Trade recommendation:
Entry point: 19.75 (aggressive) and 17.75 (conservative)
Stop: 16.99
Target1: 22.75
Target2: 23.50
Target3: 24.99
Glossary of terms
Point of Control (P O C) – The price level for the time period with the highest traded volume .
Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
Balance - Accumulation Area.
F L - flat level.
T L - trend level.
Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
OMG/USD - Mega Bullish - Buy ZoneThe impulse is not the prettiest, but both wave 2 & 4 retraces slightly.
These slight retracements show positive market sentiments of OMG, and it should be reflected in future price action. In my opinion, it will be extremely bullish.
Wave 2 often retraces to .618, but looking at wave A, it does not seem like it will be the case for OMG.
Watch out for price reversal at a:c = 1:1, it would be too early a buy for me.
I prefer the green box, with a:c=1:1.618, confluence with .382 ret, and in the region of wave 4 of bullish swing.
Good luck.
OmiseGo Trend Is UPAfter reaching the all-time high at $29, OmiseGo corrected down to 76.4% Fibonacci retracement level that has been rejected cleanly, together with the uptrend trendline. The uptrend remains valid and the price continues to print higher highs and higher lows on the Daily timeframe.
After rejecting the Fibonacci support OMG/USD once again started to produce higher highs and higher lows, confirming the uptrend on the lower timeframe. Currently, the short-term consolidation could take place, while OmiseGo remains bullish.
The nearest upside target is seen at $35, that is 75% growth potential from the current price. If OMG will correct down, a good buying opportunity should present itself around $17 level. In the worst case scenario price could correct back down to $7 or $11 support levels and only then continue the uptrend.
OMGUSD Sell the channel break out with two requirement:OMGUSD Sell the channel break out
with two requirement:
(1. no break down no trade)
(2. break new high (20.72) also no trade)
Price has hit 0.618 retracement
and in a correction channel
if this channel breaks, there is likely to have another
wave of falling to 13.65-14
OMGUSD - big third wave of super cycle third wave?If you have been following my earlier posts ( OMGUSD on the back of OMGBTC. Key decision time coming soon....
and 500% return and 5 other reasons you should buy OMG ) you'll know I am a big fan of OMG because both the technical and fundamentals stack up.
Of the 15 or so blue chip coins (top 50) that I track it is the best performing in Feb, even being up slightly on LTC.
I buy coins when I see their TA stacks up against BTC and USD. This is absolutely the case with OMG at the moment. If my analysis is correct, we are entering a big 3rd wave impulse of a big super cycle 3rd wave. These waves often deliver growth of 2.618, 3.618 and 4.618. This post goes into more detail of the way its performance against BTC.
My plans
I have been in OMG a while and have been buying on the dips over the past few weeks, mainly moving from BCH, XRP and IOTA into it. Now there is more data to support my conviction that we are going into this third wave, I will look to double down on my position. The set up I am looking for is a pull back from a completed wave 1. This may be occurring now or wave 1 might continue to go up more before doing so. I will be aiming for at least a 0.5 Fib retrace from this first wave up from around 15.5. I have shown a potentially entry point, BUT that will change depending upon when this wave 1 starts its retrace. My targets are high, as I am expecting an extended wave 3. I'm looking for an extension of 2.618 vs either the recent wave 1 (from $7.1) @ $40 or the super cycle wave 1 ($1) @ $32. Stop loss would be below the start of this latest retrace at 15.4 or lower. The risk reward will be clearer once we can see when wave 1 has finishes but at the moment it would give a good 7:1.
OMISE GO - Go to where?Hello everyone, lets take a quick look at OMG USD.
As you can see OMG is going into a uptrend and just broke our daily pivot (not on chart).
Looks like we're heading to 0.382 fibo retracement, which is around 20.50 level, and if we manage to break it, 23.50 should be a good take profit.
Take a brief look on the volume of the last red bars, high volume but, almost no effect, tiny bars with low range, lack of sellers? no supply?
Anyway, OMG is a quite reliable token with good fundamentals behind it, i dont think its any absurd if we manage to see OMG above 50 usd this year, so yes, a good hold.
A quick look on the indicators,
-MACD is goind to have a bullish cross, above the 0 level.
-RSI show that the buyers have strenght.
-On our wave volume indicator we can see the buyers have strenght, again.
-ADX is starting to lose momentum but still, DI+ show a bullish momentum.
Its important to say, as we all know, the criptocurrency market will mostly follow btc, so if btc for some reason dump again, omg will most likely follow it, however as i've said, its a good hold.
And regardless btc, our uptrend and 50ema should provide a good support level, if OMG break it, we might reach lower levels again, which will be very good for reload this token.
Good trades everyone.
This is NOT a trade signal and is just here for educational purposes.
OmiseGo should rebound around 18.50 to 22.0 and then 25.6I think Omisego needs to touch a second time the support line around 18.50 to continue to go up.
OMG prepping for downturn OMG, like most blue chip alts is following BTC, obviously. Personally I am bearish on BTC at the moment and believe that for OMG given the bearish MACD crossover and the overhead resistance line that keeps not being broken we are still in the same downtrend channel. OMG buying time is coming but we're not quite there yet...
this is all of course just for educational purposes and not advice one way or the other
