At OMG we can see an EW-movement, which I´ve drawn in primary cycle.
It is now the question if the last corrective wave has already ended or if we´ll see a new low at about 6.30$.
At the peak of the ascending triangle we´ll see the new direction.
Whether it turns up - then the corrective wave has ended and we´ll see a new trend (green arrow).
Or it turns down - then the corrective wave continues and we´ll see a new low (red arrow).
Up: +60% till the fib retracement 38.2% (15,51$)
Down: -32% till the swing trend line at 6,28$
Indicators: in sum positive with RSI above the trend line and DI+ rising
It is now the question if the last corrective wave has already ended or if we´ll see a new low at about 6.30$.
At the peak of the ascending triangle we´ll see the new direction.
Whether it turns up - then the corrective wave has ended and we´ll see a new trend (green arrow).
Or it turns down - then the corrective wave continues and we´ll see a new low (red arrow).
Up: +60% till the fib retracement 38.2% (15,51$)
Down: -32% till the swing trend line at 6,28$
Indicators: in sum positive with RSI above the trend line and DI+ rising
Trade closed: target reached