OMG has left the triangle pattern to the top as mentioned in the last analysis.
It rose to fib retracem 38.2% (15,59$) as we have expected. This is / was the profit take - level.
This was also the turning point from wave 3 (motive) into wave 4 (corrective).
Now the price can fall till support at around fib retracement 23.6% (12,45$), perhaps even to swing trend line at 10.90$; this support shows more impact on the OMG-price than the fib retracement.
At that point we should have finished the wave 4 and should re-enter in motive wave 5, which could lead us to fib retracement 61.8% (20$).
Long investors can stay and hold, traders can take profit at this level and come back on lower levels.
If OmG stops the actual correction and breaks the resistance at 38,2% to the top or if OmG falls deeper than 9.5$ the EW-wave is false.
Indicators (RSI and ADX) are signalling a correction as well. We ´ll see.
Good luck!
It rose to fib retracem 38.2% (15,59$) as we have expected. This is / was the profit take - level.
This was also the turning point from wave 3 (motive) into wave 4 (corrective).
Now the price can fall till support at around fib retracement 23.6% (12,45$), perhaps even to swing trend line at 10.90$; this support shows more impact on the OMG-price than the fib retracement.
At that point we should have finished the wave 4 and should re-enter in motive wave 5, which could lead us to fib retracement 61.8% (20$).
Long investors can stay and hold, traders can take profit at this level and come back on lower levels.
If OmG stops the actual correction and breaks the resistance at 38,2% to the top or if OmG falls deeper than 9.5$ the EW-wave is false.
Indicators (RSI and ADX) are signalling a correction as well. We ´ll see.
Good luck!