OMG still bullish. Look for a three wave correction.
OMGUSD 1H
Hey guys, as we can see on many alts including OMG we have completed a five wave structure to the upside that has started when BTC hit 6k. After that, a minor five wave structure which can be labeled as wave (a) of a bigger three wave (abc) started and has now finished. I'll be looking for a minor upmove (wave (b)) and finally for another bearish minor impulse (wave (c)) to complete the overall corrective structure at one of the marked levels ($15, $13.50, $12). As you can see on the chart I have labeled the top of the five wave upmove as (1). Therefore I am expecting a bigger bullish impulse (wave 3) after the completion of the abc correction.
Cheers
Bud
Hey guys, as we can see on many alts including OMG we have completed a five wave structure to the upside that has started when BTC hit 6k. After that, a minor five wave structure which can be labeled as wave (a) of a bigger three wave (abc) started and has now finished. I'll be looking for a minor upmove (wave (b)) and finally for another bearish minor impulse (wave (c)) to complete the overall corrective structure at one of the marked levels ($15, $13.50, $12). As you can see on the chart I have labeled the top of the five wave upmove as (1). Therefore I am expecting a bigger bullish impulse (wave 3) after the completion of the abc correction.
Cheers
Bud
Comment:
Playing out perfectly so far. 3 wave correction has been completed and price has been rejected at the expected area.
Trade active:
Final buy zone has been hit