OMG - Why Stop Losses Are Redundant In CryptoJust a short tut here.
OMG is way up in the clouds and ive been delicately expressing a short position against it.
But algos aren't going to give away a home run trade to the uncommitted.
Notice the 2 enormous wicks both 10%. One probing up and one probing down.
These are enormous wipeout moves. Notice the up-thrusting wick probes passed distribution resistance and deep into the topping territory. This would have taken out a lot of stop losses of traders thinking that is a safe area to have their stop - thinking they are far enough away from the action. Well guess what - the algos know that, they are smart and they will move the needle significantly to weed you out.
This is why to make trades like this you need a grasp of where the dominant trend is and if a coin has really topped, or you will get faked out like this or trapped deep underwater.
And how do you feel if you return to your screen only to find you've been stopped out be an enormous wick. Its very psychological.
And it the same to the downside, the enormous down-thrusting wick will catch the SL's or bullish traders trying to find the reversal.
There are worse examples than this.
And thats why in this very dangerous market, stop losses are probably redundant.
The algos are just too agile and smart for that.
OMGUSDT trade ideas
$OMG : OMG!Salve
Are you scared?
today I'm gonna talk about OMG Net. OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.
The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.
targets 11 - 12 - 15 - 19 -23
stop loss 8 - 7
don't watch charts too much
enjoy your time and family too
OMG Network (OMG) broke out channel for next bullish moveHi dear patrons, hope you are well and welcome to the new trade setup of OMG Network (OMG) token.
On a 1-hour time frame, the price action has broken out down channel.
Buy between: $14.80 to $15.40
1st target: $15.80
2nd targer: $17
Final target: $18
Stop loss $14
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
OMGUSDT Exactly on point. In reference to the previous idea that I shared,
Price did hit our short tps, now it might further retrace till ema55 at 13.75 or below before moving up, as BTC dominance is increasing and the market is not looking good for alts.
Cheers
HusenRizvi.
OMISEGO NETWORKOMGUSDT has been making higher highs on 4h TF and been following a trendline. This could be the scenario if price break this trendline.
OMG many underwater, maybe its retesting fib & volume zone soonWe got nice pump last 3 days, its time for small correction
OMG 1 volume zone has nice vol at fib lvl its also shown great vol osc and MACD at 15.5$
But 2nd zone is comparatively weak with low volume and clear resistance at 18$ with head n shoulder
shorting at sup line can be bad idea my advice is open shorts at 16.5$ area and have Smart SL
as your moon brain can say buy at support. it can rat trap at 17.2 $ so dont long above 17.1$. you can buy again cheaply at 15.5$ soon so hold tight.
I'm bullish again if it breaks 18$ with volume or retest 15.5$
above may or maynot happen NFA
Continued - OMG/USDT - Huobi - Potential Bull Flag and DCA Previous measured move hit like a glove. Potential retrace now I imagine - previous DCA levels mentioned are still applicable.
Should price continue upward, a new purple pole measured move could take us up to the next green CPR line. Top of pink channel will need to be broken though.
Let's see
Correlation between OMGUSDT and RENUSDTWatch REN closely here price could follow behind OMG and breakout of this bullish flag consolidation to new highs.
OMGUSD - JUST HODL. OMGUSD - JUST HODL.
Corona is slowly disappearing, for this reason, a lot of money is flowing out of the crypto market.
But this is only the case in the short term.
We will see a strong comeback of a crisis.
With this crisis, a lot of money will flow into crypto.
Don't get shaken out of the market.
Just HODL.
OMGUSDT SETUPEvery pullback at 0.382% Fibo retracement.
Target at resistance level (yellow line)
#TAYOR HUOBI:OMGUSDT
OMG/USDT - Huobi - Potential Bull Flag and DCA OMG at resistance meeting top of pink channel.
If it bounces at the 21EMA step line then price could break up and out to meet the pole's measured move.
Green CPR line also meets the pole's measured move target range.
Closing below the 21 EMA steps could bring price back lower into the pink channel.
Price could bounce on the green 50 EMA and/or blue CPR ranges.
Lower still, the red 200 EMA could be good for a bounce and long around $13.88.
Could get a potential wick down to grab the $12.88 range also maybe.
All dependent on BTC as always.
OMG Following uptrendline and fibo retracement, most likely OMG follows red arrow.
TOTAL is approaching resistance... This uptrend should not last much longer
If uptrendline breaks --> Downtrend
OMG usdt price action analyseI do not use any indicators for this analysis (except volume)
As we can see, we are in an upward trend and the price has grown in regular channels. (Blue Channel)
Trading in the primary channel is very risky because if the price falls, the first support will be beyond our imagination. But the second channel limits our risk.
There is a possibility of stopping in the $ 11 range (due to the compatibility of both oblique and horizontal support), but this month we will finally reach the new peak.
risk reward ratio>2
omg big potentialhi guys.
i think we are at the top of an bottom formation for omg. as you can see on the charts we formed on the daily/weekly an double bottom and inside the second higher low bottom an cup and handle.
it is always important to see what bitcoin does. btc broke out of an wedge so we could see an some upside action. its also the last day of september. the end of the month goes often with some volatility as well becauce of the close of the monthly candle.
omg correction is coming be careful ( after the breakout ) hi friends
as we see in the chart there is a rising wedge pattern and bearich divergence.
i think its a good opportunity to short but after the brealout .
please support me with like and follow me for more ideas .
OMGUSDT Likely To Hit $12BINANCE:ONGUSDT
OMGUSDT is playing well above 0.618 Fib Level on 1-HR Time Frame
Good entry is now
Likely to hit 1.618 level = $12
OMGUSDT AnalysisHello friends.
Please support my work by clicking the LIKE button(If you liked).Thank you!
Everything on the chart.
open pos: 10.3 - 10.7
target: 11.8 - 12.8 - 14.2
after first target reached move ur stop to breakeven
stop: ~7.6 (depending of ur risk). ALWAYS follow ur RM .
risk/reward 1 to 2
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to your questions or suggestions(Looking for investors!).
OMGUSDTHello Crypto Lovers,
Mars Signals team wishes you high profits.
We are in a 4-hour time frame.
As you see, the price is moving inside an uptrend channel and is currently fluctuating above our resistance line.
We expect the price to move towards our target, but if it drops below our first support line, it could fall to the next support line and then, start moving up.
But in case of loss of the second support line, we consider more falls, which has a low probability.
Warning: This is just a suggestion and we do not guarantee profits. We advise you analyze the chart before opening any position.
Wish you luck
