OMGUSD 1H
Hey guys, as we can see on many alts including OMG we have completed a five wave structure to the upside that has started when BTC hit 6k. After that, a minor five wave structure which can be labeled as wave (a) of a bigger three wave (abc) started and has now finished. I'll be looking for a minor upmove (wave (b)) and finally for another bearish minor impulse (wave (c)) to complete the overall corrective structure at one of the marked levels ($15, $13.50, $12). As you can see on the chart I have labeled the top of the five wave upmove as (1). Therefore I am expecting a bigger bullish impulse (wave 3) after the completion of the abc correction.
Cheers
Bud
Hey guys, as we can see on many alts including OMG we have completed a five wave structure to the upside that has started when BTC hit 6k. After that, a minor five wave structure which can be labeled as wave (a) of a bigger three wave (abc) started and has now finished. I'll be looking for a minor upmove (wave (b)) and finally for another bearish minor impulse (wave (c)) to complete the overall corrective structure at one of the marked levels ($15, $13.50, $12). As you can see on the chart I have labeled the top of the five wave upmove as (1). Therefore I am expecting a bigger bullish impulse (wave 3) after the completion of the abc correction.
Cheers
Bud
Note
Playing out perfectly so far. 3 wave correction has been completed and price has been rejected at the expected area.Trade active
Final buy zone has been hit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.