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OMGUSD trade ideas

Chart Taking Daily Percentage Increase Into Account 31 Days Fwd.Ok, well here is more conservative and fundamental approach to predicting a future price which calculates the daily percentage increase over the history of the chart, which is .63 % increase per day. This measurement eliminates the anomaly of the spike in price in Sept. which should not be included in our calculations. Now if we extrapolate our percentage increase of .63 % per day, from today, for the next 31 days until we reach Nov 8, 2020, we arrive at a price of approx. $4.00 or an 18.9 % price increase. This falls in line with the 44 degree, upward trend line which must touch all three points to be valid. Now personally, I would love to make 18.9 % every month on my money, especially if you reinvest it. Thoughts, opinions, ideas, criticisms ? Ward Weaire Toronto, Canada
KRAKEN:OMGUSDLong
by WMWToronto
5
Extrapolation of Price / Based on History of Peaks Good day chart lovers and those who believe they can forecast the future while the Gods laugh. This is a rather simple analysis of OMG/USD since its inception where I have measured the time in days from peak to peak. Here is an approximate of those numbers. Period #1. 108 days Increase 31.8 % Period #2. 100 days Increase 25.8 % and Period #3. 100 days Increase 242.7 % Now period #3. is an anomaly, but I have left it in for this example, but will smooth it out for a later chart. When we do the averages we see that each period from high to high is approximately 100 days for a increase of 100% ( averaged out ) As you can see the 200 day MA is 18% angle upwards, slower than what I usually like to see, which is between 30 and 45 degrees. So if we extrapolate out and upwards from the last peak, that puts us out at $12.40 price by around November 30th, 2020. Please note the log. price axis. Now this is a very basis analysis and I would like to see how it unfolds and I would love to see/hear from other traders who use more sophisticated technical analysis. Have an interesting day and please remember your stop-losses, bull markets don't last forever and the intelligence of dollar cost averaging in both buy & selling. Ward Weaire Toronto, Canada
KRAKEN:OMGUSDLong
by WMWToronto
8
OMGUSD longer term idea Huge (10$?)Hi everyone, I am back with a quick update for two of my favourite coins. There will be a more in depth analysis, but right now I am super busy and I don't have time for a full write up, so here is the gist. What we saw on the 17th of august was the first wave up of the larger cycle. We finished our w,x,y,x,y,z correction, and as you saw from my most recent omg t.a we spiked up. I believe that this spike upwards was the first wave of a wave that is going to send us above the previous highs. Notice how the macd is floating around the zero line on the 4 hour. This is a sign that we are headed on our way up. I would be really careful at this time, to make sure that you don't hop in prematurely. Just watch, and I will keep you updated for a point of entry.
BITFINEX:OMGUSDLong
by Mika_k
2
sell OMG with Gann system (tutorial)sell OMG when break out dash 2/1 line SL 3.25 TP dash cross 1/1 + 2o pips trade base on Gann Fan on gann fan trading sell setup need to find swing low and draw angle 45 degree trend line then mount gann central line 11/1 to dash 45 degree line then wait price break below line1/1 line and break out 2/1line then will find swing high again draw 45 degree trend line and mount 2th gann fan on dash 45 degree and follow price to break above 2th gann 1/1 line by more 20 pips as as tp stop loss last swing high ,where we draw 2th gann.
KRAKEN:OMGUSDShort
by I_AM_ADRENALINE
5
OMGUSD Trade setupHello everyone, I know this is different from my usual style of trading, but I figured that since I am doing so well in the stock and currency markets, I would like to test my skills in the Crypto markets, A.K.A the wild west. Fun fact, crypto is what brought my into technical analysis, so it holds a special place in my heart, but it has been a year since I've touched it so forgive me if I'm a little out of sync with the market. Elliottwave analysis: I strongly believe that we are in the last wave of a 5 wave move to the downside. As you can see from my chart, we have made a very impulsive move to the downside, the wave three rebounding almost perfectly off of the 1.63. This perfect rebound is something to take note of for future charting. I am curious to see if crypto will bounce off of the technical resistances a lot more accurately than a stock. In addition to this, we are contained in a BEAUTIFUL channel. I am aiming for the 2.0 extension of the wave 1 which is conveniently the 0.5 extension of the waves 1-3-4. Moving average analysis: On the thirty minute, take notice of how the 4th wave seems to have bounced hard off of the 200ema. This leads me to believe that we are still not done our move to the downside, and it likely marks the end of the wave 4. In addition, take into account how on the 30 minute, the 55 ema is crossing over the 200 ema, which is a huge bearish sign. Macd analysis: The macd is really testing me for this trade. I can see that on the one hour, although it hasn't crossed their is some bullish divergence on the histogram, indicating a cross might be on its way. Although, I strongly trust my wave count for this coin, and that we will see a rebound off of the 14 moving average for the macd. RSI analysis: The RSI isn't telling me a bearish or a bullish story. Right now it is in bearish territory, but there is nothing that screams bearish. Judging by the 45 minute, I think that we will see the fifth wave down, but this will show us some bullish divergence, meaning that the rsi probably won't go below the previous low. If the divergence does appear as we hit the wave 5, I immediately recommend taking a position to the top side. All in all, the trade setup is as mentioned: Target: 3.6069 Stop loss: 3.81 R:R is 3.04!!!
BITFINEX:OMGUSDShort
by Mika_k