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OMGUSD trade ideas

OmiseGo - Pause after Bullish Move From LowsOverview: OmiseGo continues to be one of the more undervalued coins in my opinion. One of the key reasons I like OmiseGo is due to the number of Venture Capitalists (VC') that have invested into the company. When I see VC's investing in a new coin this provides additional credibility to the future of the coin as VC's have insight us retail investors do not have. Currently OMG' is #21 in market cap according to coinmarketcap.com. With a hold on the Asian Markets outside China, and a good working relationship with Thailand's government this is one of the most if not the most undervalued coin on the market. Thailand is ranked 12th among 43 Asian Pacific countries in economic freedom and scoring well above regional and world averages. With a 1.2 Trillion dollar GDP, and the fact outside Hotels and Major shopping malls credit cards are not widely used, OmiseGo has niche itself as the platform of choice as countries enter the digital currency age. Technical: From a technical standpoint, OMG' is pausing after rallying back from the $7 low on the 6th of February as it approached the .618 level of the overall correction. These are areas we expect recovery rallies to pause, pullback and consolidate before continuing to rally. The daily candles show that buying has started to exhaust after a clear 3 wave bullish wave movement. Now unfortunately I did not add at the extreme lows, but I am looking to add moving forward as it is likely the correction has ended and we are entering a bull cycle. Elliott Wave combined with Fibonacci provides us insight to where we are in the market cycle, and areas we want to look to add and or sell. The 14.3 to 15.25 zone is the likely area for a bullish reversal as 14.3 is the 0.618 level from the current bull move and 15.25 is the 0.382 retracement from the overall correction. I will be looking to add a small position in this area and either on a breakout from the bear movement, or at the extreme low of 11.91 which is the 0.618 retracement of the current bullish leg and the 0.236 retracement of the overall correction. This would be an extreme low and offers the best opportunity to position ourselves for the next wave cycle up. Currently we are targeting this trade for the 22.3-23.9 area.
BITFINEX:OMGUSDLong
by goldbug1
13
OMGUSD on the back of OMGBTC. Key decision time coming soon....Whilst I buy the opportunity in OMGUSD, the important chart for me is the bottom OMGBTC as this is what is driving my technical analysis. I tend to go to BTC and cash during corrections to make it easier to manage and it has historically performed best out of all the coins in these times. As the correction *potentially* begins to end, I want to know if I'm best in BTC or other coins. I'm interested in trading coins where I can see long term trends and typically where I also believe in the fundamentals. You can read this post 500% return and 5 other reasons you should buy OMG to see why I'm a believer in the fundamentals of OMG and still hold OMG in my core holdings. OMG is at a very interesting point relative to BTC. It has been through a wave of growth, contraction and then a shorter wave of growth again, not reaching its high from the first wave and is now consolidating. The question I ask myself is whether we are in a five wave growth or contraction impulse relative to BTC. OMGBTC Growth impulse (shown in black numbers) We are part way through the third wave and likely to go to 1.272, 1.414 or 1.618 of wave 1 which are 0.0036, 0.0041 and 0.005 respectively. OMGBTC Contraction impulse (shown in red numbers) We have completed the 2nd wave and have just started the third wave and likely to go lower than the low of the 1st wave (0.0005). My plan My conviction is that we are in a growth impulse wave but I want to be more sure about this before I take more long positions. Whilst there are other wave combination possibilities, the OMGUSD chart suggests we are in a wave 3. We can't have topped that and be in a wave 4 because wave 1 and 4 can not overlap. We have a down trendline from near the ATH which we are bouncing along at the moment and which is forming a bull flag/pendant. If this should break up, I would feel more confident we are in a growth impulse. Although we wouldn't be sure until wave 1 top is broken, I will be looking to enter should we break up out of this bull flag (subject to what is happening with the correction). Using the height of the the flag, I have a target of 0.0028, which coincides with the top of wave 1. My stop would be the bottom of the flag. We could also be in a massive bull flag, with Wave 1 as the pole and the green dotted support line as the bottom of the flag. I have marked this pole in the transparent orange. I will therefore continue to hold my core position even if we break down out of this flag but remain above this lower diagonal support level.
BITFINEX:OMGUSDLong
by monkia
10
OmiseGO, professionals at work.Important part of the ETH ecosystem, and Ethereum is doing very good lately. I'm not that interested in ETH, so let's rather have a look at OmiseGO :) Fundamental So.. I've had OMG since I started the spreadsheet method. It's in profit, but should have performed better considering the overall increases. I'm holding on, and feel this is a very nice time for buying as well. "Unbank the Banked with Ethereum" reads their webpage. They are out to disrupt , and I can get behind that. OmiseGO is founded in 2013! They are making progress and expanding rapidly. "The secret behind the building of Omise’s success is our focus on understanding and addressing real business needs in an easy, integrated and secure manner. Leveraging our in-house expertise in the payment market and experience in implementation and commercialization of financial products, we believe OmiseGO has the potential to be a global standard for exchange and payments." - @Apompliano | The most intelligent engineers I know are all incredibly excited about OmiseGo (OMG). It is the... OmiseGO does not hold the spotlight, but it has the potential to do so in the future. Technical My target is up at 62 USD , where you can see we have two fibs perfectly lined up. We got a trendline, aswell as a channel. And we got a pitchfork to look for support/resistance :) Bibox | Blog Post Yesterday me and Koinworld got into Bibox, and it's returning good results already! ( Up 33%)
BITFINEX:OMGUSDLong
by Kryptokelly
20