Crypto_Ed
Long

$OMG one more leg down to complete correction?

BITTREX:OMGBTC   OmiseGO / Bitcoin
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38
2466 9
On the bigger TF, I'm bullish on OMG but on shorter TF I'm starting to think we might see one more leg down. Bearish divergence on MACD is one the reasons.

I expected yesterdays correction but the bounce is not convincing me (yet).

We might get a bigger ABC correction from the blue box in left picture toward (4), from there we should bounce to (5).

Breaking the yellow trendline invalidates these thoughts.

Happy trading!

Sep 10
Comment: Price went a bit higher as expected but due to weakness in btc, I'm expecting that the ABC correction will be made.
Raised the blue box a bit due to the higher bounce.

Sep 14
Comment: Target reached, I added to my position.
Lets get back to business and bounce!
spot on man! could have risked a bit more and shorted some extra but sure....
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I think we broke the trend line an hour or so ago. Clear sailing to 5 now?
+1 Reply
mooneymoonman Foster306
@Foster306, 5 as in $5??
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verslus9999 mooneymoonman
@mooneymoonman, look on second chart 1-2-3-4-5.
+1 Reply
Foster306 mooneymoonman
@mooneymoonman, No, the number 5 on his chart.
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mooneymoonman Foster306
@Foster306, thanks.
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verslus9999 Foster306
@Foster306, btc going down, everything going down for a while
+1 Reply
Cheers man!!
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Totes Agree
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