Volume on OMG has been great the past few weeks. However, nothing has materialized during those weeks.
Upon looking at the 4 hour chart, we can see a clear bear flag that I feel will start OMG wave 2. We should see a retracement of about 61.8% for wave 2.
Bear Flag Pattern has about 67% Success Rate in terms of its reliability. So there is still about 33% chance that it ignores the bear flag and goes up, however odds aren't too good.
Upon looking at the 4 hour chart, we can see a clear bear flag that I feel will start OMG wave 2. We should see a retracement of about 61.8% for wave 2.
Bear Flag Pattern has about 67% Success Rate in terms of its reliability. So there is still about 33% chance that it ignores the bear flag and goes up, however odds aren't too good.
Comment:
OMG broke into the green channel. Next support is around 0.0021 and 0.0019
Trade closed: target reached:
Closing short at 0.1967.
Looks like omg is going to bounce back soon. For now.
Looks like omg is going to bounce back soon. For now.
Trade closed: target reached
Will be interesting to see where it will head.