OMG/USD IdeaThe OMG/USD chart shows potential for more confirmation of upward movement. Red dotted line shows resistance from down trend on 1D chart that was clearly broken on November the 8th with good volume. Price fell from there to retest resistance turned support and bounced (also happened to coincide with the top of the cloud). We are now moving up through the cloud with a crossover on the MACD and a potential crossover of the Chikou span with the Kijun-sen (blue circle).
Watch for a candle close above the cloud with a confirmation of the Chikou crossover for a stronger signal, and expect resistance at $8.30. I love this little coin and always look for an opportunity to pick up more; I see good potential here.
OMGUSD
OMG! Catching Structural Wave 3OmiseGo has performed well against the risks of capital flight plaguing the altcoin sector over the last few months, managing to stay above the major key fibo level. Currently it has broken through a significant downtrend line, ruptured through BBs to the upside, and is showing bullish signals on the RSI. Its possible we may see a trend reversal, with intraday (swing) trading opportunities.
Possible targets for now to the upside are a MIN TP of $15.90 and a MAX TP of $18.79.
Alternatively, we could see trend resumption and trade as low as $3.46 before bouncing back to the $10 region.
My strategy also involves analyzing the OMGBTC chart, and it should be noted that currently we lack support for a trend reversal in this pair.
*This instrument saw a 3500% increase in value from inception to its peak of $13.70, so a further correction is very possible.
***Bitcoin's bullish cycle has expired, and the impact that this variable may have on the altcoin sector is not clear at this time.
As always, I'll be updating this thread as we go along.
Cheers and GLWT,
-Erik
OMG USD shorter time frameUse this to help inform your trades.
Not a trading advice - just providing info so you can make your own trade decisions...
OMG rose too quickly. expecting a pull back.
The length of the black arrows are the same. after the pullback expecting the rise to extend to at least the length of the black arrow.
Please comment with any questions.
OMGUSD, Long, a new bull runThe coin bounced off the strong daily chart Fibonacci support at $5.6 and broke the downtrend line. For the first time in weeks the price stand above the long term EMA89 period. This indication seems to signal the finish of the BEAR market cycle and making a new BULL move.
On this chart which is the 4H the coin retrace back to 618 Fibonacci at $7.2 which whom were the fast traders would have had enter one portion of the position. Those trades can be hold if this coin breaks $8.8 which also open up an opportunity for those who missed out the first entry.
If the price decide to move up breaking the previous high at $8.8, the target can be at the first resistance is at $9.7, and our target at $11.7.
So its always calculated risk and rewards, where in this set up theres $1.6 on the downside and $3.0 on the up side so its about 2:1 (risking of losing one and gainning two).
Note: New entry which break $8.8 area have a stop at $7.2
Feel free to leave a comment. :)
Best of Luck
OMG/USD reversal signal has been given.Three scenarios here, but I vote for an option 3. Next 7 days will make things clear. Major support line is 7$. I'll keep this updated.
OMG/USD: Possible Bullish TrendOmiseGo has respected very well the diagonal resistance since the beginning of October. Finally violated the trend line at $ 6.90 approximately, it is currently making a pullback to the same level. If the upward trend resumes, it can be a very good buying opportunity, as a confirmation we can expect it to define above $ 8.50.
Long OMG/USD Found new support @ $7+If you missed the long wait till the $7s pullback towards support for a new leg up toward $9 and up. This is a classic falling wedge pattern.
OMGBTC Facing Important ResistanceIn order for this breakout to MOON we need to see OMG Cross this resistance. Volume still really low comparatively so use caution. I think BTC still has some legs left.
omg byu ideathe price formed support at the level of 0.00085-0.00095 BTC. According to Fibonacci this level is 0.236 and it is a good point for opening deals. The RSI Oscillator is in the oversold zone, and MACD is preparing to go up, it tells me that the price will go up.
To avoid a false signal, I recommend making purchases at the level of 0.001. To expose a stop-loss, and also to close deals in parts.
Buy 0.001
Target 0.0013-0.00165-0.002
Stop-loss 0.00077
OMGUSD - falling wedge. OMGUSD - falling wedge. I expect rise, but need a few days or more. Let's see.
OMGUSD Ready to breakout. One more down before Segwit2X?Considering the Segwit2X is 7 days to go
I expect a small wave up and down. Probably one more last bottom.
-6.1 is the hard support.
PS. Don't believe anythings I am saying here. I am not a professional trader and draw graph for fun only.
OMG USD an idea...Please use this as a reference - this is not a trading advice. Too many things are aligning for me to ignore...
Please comment for questions