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Omgshort

omgI think OMG has what we call an Irregular top pattern in EW. This is when the 5th wave finishes & the ABC correction starts but wave A is very shallow , fails to correct the 5 up. This leads to the B wave extending higher than the 5th wave & then the final C wave moves to correct from the top of wave B. I also think we had a classic 1-2, 12345 wave extension which usually shows wave 3 reaching the 1.618% fib extension B4 rolling over into wave 4 which is shown nicely in the chart as well. But all this considered I'D say that bottoms likely in or maybe a double bottom is coming..
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by Big_Mike716
2
Omisego Sell a Break setup.OMGUSD - Intraday - We look to Sell a break of 13.698 (stop at 14.211) Short term bias has turned negative. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. Prices have reacted from 18.20. We look for losses to be extended today. The previous swing low is located at 13.75. 50 4 hour EMA is at 14.10. Our profit targets will be 12.262 and 11.828 Resistance: 15.000 / 16.000 / 17.00 Support: 13.80 / 13.00 / 12.00
KRAKEN:OMGUSDShort
by Signal_Centre1
OMG! OH MY GOD ITS GOING UP! - $6.50 FIRST TARGETOMG is fundamentally solid crypto that rose to fame in late 2017 being one of the early gainers in the 2017 bull run, ever since then 1120 days ago, OMG has been in a pennant formation and has broken out!!! THIS IS HUGE! and many other coins such as wanchain are sharing similar patterns! Bullish indicators - 1120 days pennant breakout - macd and ma cross upward - volume increase - red Ichimoku cloud break - similar pattern to ETH (3MONTHS AGO) before run to ATH 'Let me know what you all think! Follow me and join the MegaWhale family - ''Buy Big Sell BIGGER''
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by MegaWhale
4
Descending triangle OMGUSDT*** Stops need to be re-adjusted and R:R reassessed at point of entry. As a guide, I usually count 6-8 candles back from my entry point on the timeframe I’m trading on and place my stop just below the lowest wick within those 8 candles in the case of a short, or above the highest wick of the last 8 candles in the case of the long. If this rule means your R:R to target one is not good, don’t take the trade. *** OMGUSDT Probable - Long term descending triangle on daily - bearish pattern - EMA’s bearish on daily, 12hr & 4hr - Looking for BCR of yellow box zone - 2 short targets Possible - Look to see if we create a HL within the triangle for a heads up trend may change - Wait for EMA’s to turn up and cross bullish - Wait for break out of the long term down trend line - Wait for retest of the new support - 2 long targets
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by TradeTravelChill
Watch the reaction to this IMPORTANT support The current situation: 1. A descending triangle pattern is now more apparent with 53% chance of breaking upwards and the measured target is about 4.45 USD from the apex. But still, note that there is still a head and shoulders formation within the triangle, which is a predominantly bearish pattern. So far, the Fib level (gold line), 4 and 6HR 200MA have been acting as support but it was not strong enough to propel a break out to a new high. The 4HR 21MA is now approaching to the price action so in my opinion, the reaction to this moving average hitting the price action is very important since staying above the 21MA on a given timeframe is a bullish sign. The 4HR 21MA has also not been touched since the breakout back at 3.1 USD. 2. Do look out for possible bearish divergence from the last high created on the RSI, especially on the 1, 4 and 6HR harts as their last highs did create an overbought reading on the RSI. The bullish case: price action bounces off the 21MA and breaks the triangle. An hourly close above 4.25USD would convincingly invalidate the head and shoulders pattern to me. The bearish case: a close below the 21MA on the 4HR chart as the next level of support would be the downward-sloping 4HR 200MA currently at 3.75USD *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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by Art0fChart5
7
Will this bounce and continue?The current situation: 1. Price action has ran up to about 4.3 USD today and now has formed a head and shoulders, a bearish pattern, on the 15M chart. The neckline of the pattern is about 3.95, which the price action has now broken below and the measured target is about 3.6, which is about where the 1HR moving average is. The 4 and 6HR 200MA are at about 3.8 currently and can be resistance once price action closes below it. 2. RSI was just or is still overbought on the 1, 4 and 6HR charts. So possible bearish divergence may still occur even if the price action makes an equal or higher high. In that case, another pullback may be expected after. The (short-term) bullish case: price action bounces off the 1HR 21MA and retest the previous high of about 4.3 USD The bearish case: price action does not get a strong bounce at the 1HR 21MA and continues falling. Either of these are VERY risky moves to get in on. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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by Art0fChart5
4
OMGBTC (OMISEGO Token) Ready, Set…………..!OMGBTC (OMISEGO Token) 05/26/18, 8:15 PM EST, by Mike Mansfield Good evening, trader friends! Thanks for stopping by. No, no, no, I am not here to wrangle a thumbs up from you on this one. However, if you just love any of the other forecasts, feel free to like away! ;-) OMISEGO sounds a bit like what “oh my gosh” would be in another language. Perhaps you can relate to the following statement: "Sometimes I literally “know” what an outcome of a chart will be with a high degree of clarity, probability, and ultimately accuracy." However, this is not one of those times. I can rationally make the case for several outcomes. That is not something I love….but since someone asked for this, I’ll map out the 3 patterns and their likely paths and change of trend times and price areas to watch for. BOTTOM LINE: UG! We have patterns within patterns, but the cycles look good! Pattern-1 is long-term neutral: Large triangle wedge pattern (lime green and dark red lines) may be forming. If correct, it is unfinished and will have at least one, possibly two, more legs down toward the red long-term support trend trend-line, before we can say for sure if the pattern will resolve to the upside and moonshot, or tank into crypto oblivion. Pattern-2 is medium-term bearish. Maybe: Bearish rising wedge (cyan blue trend-lines) lines are converging in an upward direction. But it’s not super perfect pattern, as they sometimes look. Rising wedges typically resolves to the downside in a significant way. Moreover, OMG broke the lower support line at the recent May 23 low, which likely means eventually lower prices. Pattern-3 is short-term bullish: Falling wedge (yellow downward trend-lines) is short-term bullish and no matter what, a cyclical bounce is due now based on the two quite accurate cycles thus far. CYCLES: Two nicely aligning cycles lows are nesting now (making a low). OMG should have a tradable rally to the green downtrend line. Green cycle moving up and due to peak June 18, Green cycle bottoms again July 15th. Pink cycle is also moving up. Both the pink and green cycle are both due to top around August 10 also, =/- 2 days. INDICATORS: Klinger Volume Force is in a wedge. It also supports the idea that the eventual breakout, up or down, should be big. MACD is rounding in line with cycle lows due any day now. SUMMARY: Short-term pattern and cyclical are bullish for a bounce, or more, perhaps until mid June. Then, another selloff back to the lower cyan support trend-line, in alignment with the cycle low of the shorter-term green cycle, while the larger pink cycle is moving up. OMG with then either breakout the upside in line with the pink cycle moving up until about August 10th, while the pink longer-term cycle is also moving up and blast off. If the breakout does not happen by the peak of the Pink cycle (Aug 10th), then OMG is very bearish, and the bigger triangle/wedge will likely end badly for OMG. If OMG breaks out to the upside between now and June 18th, then it might retest the breakout line or pullback around July 15th then have a cyclical peak August 10th +/- 2 days. POTENTIAL TRADE: Consider looking for a short-term cyclical long trade. Lower risk area could be at the first higher swing low once a 34-50 bar EMA average (or something better) turns up and price is also closing above the average. If The trade doesn't move nicely after the first or second pullback on a 240 minute chart, then the outlooks would be quite bearish short-term and long-term. DISCLOSURE:   This analysis is meant for educational purposes only. You trade at your own risk!   Cheers!  Michael Mansfield CIO  
OLong
by UnknownUnicorn1613901
2
OMGUSD (OmiseGo) wave analysis update: 4hr tfMy previous post on OMGUSD (4hr tf) can be found here: It was mentioned in the previous post that a price close below ~$12.50 favored a bearish scenario for OmiseGo (OMGUSD). Price swing downwards from ~$17.82 on April 26, 2018 is therefore identified in this analysis to be a triple zigzag Elliott wave structure (W-X-Y-X-Z) that is not yet complete as we are in the last leg of the structure i.e. Wave Z. The horizontal red lines on the chart from the previous post mark the region that is still favored for the termination of wave Z, before any bullish momentum can be sustained by OmiseGo (OMGUSD). The point of invalidation (POI) of this analysis is a price close above ~$16.05 at which point OmiseGo (OMGUSD) would have invalidated the proposed Elliott wave structure.
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by Coin_Analyst
OMGUSD (OmiseGo) wave analysis update: 4hr tfMy previous post on OMGUSD (4hr tf) can be found here: It was mentioned in the previous post that a price close below ~$12.50 favored a bearish scenario for OmiseGo (OMGUSD). Price swing downwards from ~$17.82 on April 26, 2018 is therefore identified in this analysis to be a triple zigzag Elliott wave structure (W-X-Y-X-Z) that is not yet complete as we are in the last leg of the structure i.e. Wave Z. The horizontal red lines on the chart from the previous post mark the region that is still favored for the termination of wave Z, before any bullish momentum can be sustained by OmiseGo (OMGUSD). The point of invalidation (POI) of this analysis is a price close above ~$16.05 at which point OmiseGo (OMGUSD) would have invalidated the proposed Elliott wave structure.
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by Coin_Analyst