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OMGUSD trade ideas

OmiseGoIf you look OmiseGo chart you can see it is trying to make an inverse head and shoulder pattern (blue) and if it can break up neckline there is a resistance at 26$ (76% retrace) and after that inverse H&S target at 31$. As you can see it makes a H&S pattern (purple)and if it comes down and breaks neckline and support together at 15-16 $ , it will come down to 10$ support. Also, there are 50EMA and 100EMA below it, so I think it probably breaks up neckline and goes for first resistance. Share your ideas about OmiseGo with me . Thanks
O
by shokrim1987
2
OMG - "Money is Made When You Buy NOT When You Sell"Overview: One of my passions is flipping Antiques. For a while I was actively buying Antiques and Collectibles at Auctions, which I would then turn around and sell in shows or on eBay -1.55% . Not a bad gig. When I lived in Arizona I used to stop by this old antique store in Wickenburg and talk to "Old Man Wickenburg". He was well into his 90s and living in the middle of no-where. He enjoyed the company and we always enjoyed his stories so we stopped by whenever we were in the area. I am ever so great-full to have know him. He taught me a lot about antiques and moreover life. One time I was in there looking around after the Phoenix show and telling him how much money I made selling this gas pump, bragging to say the least. He said casually "the rest of the show must not have been so good then". I stopped, thought for a moment and said it was ok we did "pretty" good we sold a lot. This was when he leaned over that dusty old counter and said these words I will never forget. "Son, the money is not made when you sell something, the money is made when you buy it". This was one of those moments that had everlasting impact. So what does this have to do with cryptos? This advice applies to all markets, after all the world is just one big market of buying and selling. Buying right is the key to successful investing and trading. Whether your buying a house, business or trading/investing in the markets the money is made at the purchase. I mentioned in my previous article that I was looking for a bullish reversal in the 14.3 to 15.25 area which did not happen, therefore I did not get the signal of the reversal until I noticed it too late. So what do we do in these situations as it happens often where we miss the buying opportunity or signal? It is simple, we look for a better opportunity. I want to buy into weakness, or at the breakout, not after missing the signal which leads to chasing and portfolio ersion. OMG is the perfect example. Technical: We are testing the 1st Level of resistance that we identified back on the 22nd and are showing some signs of exhaustion after three well defined impulse waves. To be clear we can still move higher as our target levels of 22.3 to 23.9 are still valid. But overall the market in general is starting to show some signs of short term weakness. I want to take advantage of this, but understand that we can always go lower so I am looking for a good bullish reversal signal on a pullback. I am looking at the 15.55 to 17.55 level for entry on a bullish reversal signal. A break of 13.65 would negate my current count and we could find support at the extreme low of 12.32 or the 0.618 retrace or even as low as 10. I would love to get another shot for the long term at 10. Keep in mind sentiment is at a low right now, but as we have seen sentiment can turn on a dime. Summary: I never worry about missing a trade and I definitely do not chase. Markets always provide us with ample buying opportunities, and as my buddy MarcPMarkets often says, "Let the market come to you". If the market does pullback and I get a reversal signal I will be ready to take advantage of the opportunity, if not, I will be patient and wait. Money is made when you buy NOT when you sell. Having cash on deck ready to take advantage of these deals can significantly add to long term profits.
OLong
by goldbug1
31
OMGUSDHi guys As you see, the price compressed in the Flat Bottom Triangle (Descending Triangle) pattern and we know the descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution. We have very strong levels at 15.85 & 15.62 $ that candles couldn't break those and price must be return under 15.62 $. If candles break the Bottom of pattern i go for buy position.
OShort
by UnknownUnicorn1255647
OMG still bullish. Look for a three wave correction.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
O
by BudBronson
6
OmiseGo - Pause after Bullish Move From LowsOverview: OmiseGo continues to be one of the more undervalued coins in my opinion. One of the key reasons I like OmiseGo is due to the number of Venture Capitalists (VC') that have invested into the company. When I see VC's investing in a new coin this provides additional credibility to the future of the coin as VC's have insight us retail investors do not have. Currently OMG' is #21 in market cap according to coinmarketcap.com. With a hold on the Asian Markets outside China, and a good working relationship with Thailand's government this is one of the most if not the most undervalued coin on the market. Thailand is ranked 12th among 43 Asian Pacific countries in economic freedom and scoring well above regional and world averages. With a 1.2 Trillion dollar GDP, and the fact outside Hotels and Major shopping malls credit cards are not widely used, OmiseGo has niche itself as the platform of choice as countries enter the digital currency age. Technical: From a technical standpoint, OMG' is pausing after rallying back from the $7 low on the 6th of February as it approached the .618 level of the overall correction. These are areas we expect recovery rallies to pause, pullback and consolidate before continuing to rally. The daily candles show that buying has started to exhaust after a clear 3 wave bullish wave movement. Now unfortunately I did not add at the extreme lows, but I am looking to add moving forward as it is likely the correction has ended and we are entering a bull cycle. Elliott Wave combined with Fibonacci provides us insight to where we are in the market cycle, and areas we want to look to add and or sell. The 14.3 to 15.25 zone is the likely area for a bullish reversal as 14.3 is the 0.618 level from the current bull move and 15.25 is the 0.382 retracement from the overall correction. I will be looking to add a small position in this area and either on a breakout from the bear movement, or at the extreme low of 11.91 which is the 0.618 retracement of the current bullish leg and the 0.236 retracement of the overall correction. This would be an extreme low and offers the best opportunity to position ourselves for the next wave cycle up. Currently we are targeting this trade for the 22.3-23.9 area.
OLong
by goldbug1
13