jwlondon98
Long

OmiseGOnna Rip One In 2018 (OMGUSD C&H)

BITFINEX:OMGUSD   OmiseGo / Dollar
Anyone who has seen my ideas before will know that I may be slightly obsessed with the cup and handle pattern, but it is just such a strong pattern. Bitcoin broke out of it's cup and handle early this year, and now look where we are. I see this as a potential play for OmiseGO.

After topping out around $13.70 back in September (end of wave 1), OMG consolidated for about two months until bottoming around $5.50 (end of wave2). Since then its been on a steady rise, aside from the flash crash, which does not invalidate the pattern in my opinion.

Even if the cup and handle fails to complete correctly for some reason, I still believe this is a good long opportunity for OMG, as we are obviously in a massive bull market. 2018 is going to be huge for all coins. We are in another expansion period similar to this spring, except likely longer and more massive, as most of these coins are moving on to there third waves.

TP 1: $18.00
TP 2: $50.00
TP 3: $200.00
I based these test points off the fib circles drawn. $200 seems very possible as a potential wave 3 target. I expect the C&H to complete before January, but it may even complete before the end of this year.
Comment: Bouncing off cloud support nicely
Comment: On our way to $13. Lets see if it'll make a handle :D
Comment: Breakout. New ATH!
Comment: pump it
Comment: I've just been holding OMG, but I think past couple weeks was a retest of the breakout. Might flag here, but I'd say it looks good for more up.
Comment: Something like this would be amazing:
Comment: Looking really good. OMG just broke out of a flag. Looks like it is passing the median pitchfork line again. Next target is $30, then $50.
Comment: Going to orange pitchfork line now I believe.
Comment: My buddy Ed has a nice chart showing $30 as next resistance as well. https://s3.amazonaws.com/tradingview/sna...
Comment: Price got slammed when BTC broke out. The flag continues..
Comment: This may be a good pitchfork channel to watch for this uptrend. OMG may chop in this range for a couple more days, but I'm looking for a breakout.
Comment: Books are thin. 4H looks decent for more up, but may just go sideways till cloud. Bouncing off the bottom aqua trend line now.

OMGBTC 4H needs to get back into that cloud support and hold it.
Comment: 4H bollinger bands starting to compress more as well. Good sign for more up soon.
Comment: Things are looking very good. I was able to draw a shorter term pitchfork. Red zones a resistance areas. Break the median pf, go to $30 i think. Break $30 go to $50. BTC seems like its in a short term downtrend so this may give alts room to pump for a few days.
Comment: From a cliff high report: "The data sets continue to grow in support for OMG and 'new opportunities' that are going to be 'touted
(made visible in media)' over the last of Winter (northern hemisphere) such that by late February, OMG
is seen as a 'leader' in the Spring. There continues to be growth in sets for OMG to be gaining over
2018 through well into 2019, with some sets describing OMG as a 'leader' in the larger group of rising
coins/tokens from the 'Spring (northern hemisphere) ramp up'.
The data sets for OMG are working off the 'payments' sets. There are a number of 'payments' sets that
are related to 'payroll', and 'government'. These sets are filled with supporting sub sets for the idea of a
'contract' to act as the 'payroll vehicle' by a number of 'large government agencies'. These sets are NOT
clear indicators that OMG will be this 'vehicle', but the preponderance of the data at the moment has it
as a greater potential for this coin than others"
Comment: OMG on life support.. Let's see if the buy wall at $19.00 holds it up.
Comment: Looks like its about to breakout on low TFs. If this channel is valid I am thinking next target is around $35, back to the median pitchfork line. Hoping the projection comes true, but if OMG happens to fall out of the PF I may go short.
Comment: Previous chart did not work out as I had wanted it to. BTC dump caused all alts to dump hard. Everything depends on BTC here. I have no position on OMG at the moment, but it likely has bottomed with the rest of the alts and is ready for some more up. I longed EOS this time around, but will put some profits back into OMG when I get the chance. On this idea's main chart it looks like the median line showed to be strong resistance for OMG forcing it down to the outside of the fib circle. Be cautious here regardless of what you are trading.
Comment: Haven't updated in awhile but it looks like OMG is hot again. After the huge drop the bottom of the PF channel held it up. Looks like a flag here
hi can you update? thank you
Reply
Wow! you have put some work in here> Appreciate it! :D
Reply
jwlondon98 bearfoot
@bearfoot, no problem man! :D
Reply
looks like it might be testing the fib arcs
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jwlondon98 420snoop
@420snoop, agreed
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When is bottom ? Its alredy 7.50 looking that will pull down more ?
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@DrLove, It has support here. If 7.50 breaks next support would be that trend line a little lower. The bottom of the ichi cloud is there so this is a support zone in my opinion. Almost all alts are looking very oversold. Should reverse soon if bitcoin can chill out.
Reply
jwlondon98 jwlondon98
@jwlondon98, If it breaks the yellow line and the cloud support on the daily then the pattern is invalidated in my opinion.
Reply
DrLove jwlondon98
@jwlondon98, gotta you,thanks ...good to know for srop loss
+1 Reply
nfs5 jwlondon98
@jwlondon98, Love it. Thank you. More!
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