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OMGUSD trade ideas

Inverse head and shouldersA small time frame inverse head and shoulders neckline has been breached. The Neckline target will in turn breach the neckline of a larger time frame inverse head and shoulders with a neckline target of $11.7 A close above $8.61 on the daily chart will make a new higher high and confirm a change to an uptrend. Failure to breach neckline resistance and a breach of the red long term trend line will confirm downward symmetrical triangle pattern continuation instead.
BITFINEX:OMGUSDLong
by cheretic
OmiseGo ConsolidationThis market was struggling to perform compared to other instruments over the last few months. In August OmiseGo was on fire. We tagged the major fibo resistance (a shorting level where longer term market participants decide to stay or leave the market) and collapsed. This is a sign of weakness, even tho we formed a bullish wick. I can see the uptrend line getting busted and visiting the edge of the major classical support at $5.33. Depending on how price action goes, we may see max consolidation at $4. Be advised, trading below max consolidation could take this market down below $2 before it starts pushing upwards. Alternatively, if we break the descending channel, we'll want to get long!
BITFINEX:OMGUSDShort
by Trader6127
16
OMG LONG - IF..THENAfter having seen a huge spike to the downside on many crypto pairs, chances are high that the month of December will present us plenty of decent buy opportunities. Having a look at OMG, my area of interest is $10. If we see a clear break and close above the point of validation, the continuation would be confirmed. BUT there is also the possibility of a further move to the downside. That's why I'll be waiting for a break and minor retest, as I'm not interested in taking any shorts. The projected target area is $16-$16.50
BITFINEX:OMGUSDLong
by BudBronson
4
OMG could see 100% higher pricesRISK-ON MENTALITY: In general, the alt-coins are seeing outsized gains and performing strong. I use alt-coin performance as a gauge of risk appetite, just like I would analyze small companies in the stock market to see if investors and speculators have a risk-on or risk-off bias. When Bitcoin is performing well, but alt-coins are performing even better, then that means we are in full Bull Mode. It’s time to be aggressive and make sure to take our profits before we see a crash and/or lose opportunity cost with long multi-month consolidations with no movement. OMG BREAKING OUT: OmiseGO is breaking out of a 3 month long consolidation pattern that you could call a descending triangle. It tried to break down below that level in early November but the bulls came in and rejected any larger correction. When that happens, it’s a VERY BULLISH sign. The weak hands are shaken out and we are only left with buyers. The break out wasn’t at super hero lightning speed, but it looks healthy. We broke out of the descending trend line and retested that level before finally starting a steady march upwards. We are above all moving averages and there is clear skies until we reach the old highs at around 14$. Then, our next target is the 161.8% Fib retracement level at 19$. That’s a 100% move from today. Make sure to take your profits, reducing your size at each level, because if we move into a RISK OFF mentality, then these could fall fast. Take your profits at your targets! Stop would be under the break out level, call that 7.50 or 8. -- Please message me with your questions or thoughts.
BITTREX:OMGUSDLong
by BerlinTrader591
2
OmiseGO - New targetsOmiseGO has been correcting and bottomed at 61.8 fib level and finding support at historical uptrend as my previous analysis have been forecasting: Reversal signals: - Daily MACD has crossed, crossing the 0 line will be a confirmation - Price has break 4hr - MA100 and keeping above. - Price is bouncing from historical uptrend and acting as huge support. At the moment we are facing resistance of daily MA50 - MA100. We could retest historical uptrend and 4hr MA100 Breaking above daily MA100 we could see these targets: 1st target: 11.40 2nd target: 18.78 (1.618 fib extension )
BITFINEX:OMGUSDLong
by IamCryptoWolf
2
OMG buy opportunity?look chart OMG "sits" on fibb level 61,8% MACD turning from negative to positive but still below zero! RSI at 48 (under 50 is negative) will the price drop to lower levels and touching decision lines? or will it rise clearly above the fibb level? just wait and watch! I recommend to wait at least one 4h-bar for confirming! One hasn´t to be the first on the train, also not the last. But to be sure the train isn´t heading to the wrong direction better wait a short time.
BITFINEX:OMGUSD
by Luettis