OMGUSDT textbook wyckoff setup

My take on the wykoff setup using repeating parallel channels

Spring and Test complete

SOS $5.92
LPS $3.60 to $4.00
As always with OMG very rapid price movements in a tight parallel near vertical channels
1st target (wave 1) $12.00 retrace to $6.00 (wave 2)
2nd target (wave 3)$17.00 retrace cannot pass below peak of 1st target of $12 (wave 4)
3rd target (wave 5) $23.00 (this will be Wave ONE of the next bull run)

followed by another Big 5 wave retrace to around $6.00

Good Luck all you OMG veterans an newbies!


Not financial advice blah blah blah do whatever at your own risk

Comment:

OMG Perfectly on track with a steady climb to $5.95 over the next two days to SOS POINT (Sell) , then Back Up $LPS will have a dramatic wick retrace to as low as $2.60 before forming a flag/pennant over another couple of days then shooting up to just over $12

Comment:

Cancel Previous update... This replaces it

OMG on track with a steady climb to $4.65 over the next
day to SOS POINT (Sell) , then Back Up LPS will have a dramatic wick retrace to as low as $2.7 before forming a flag/pennant over another couple of days then shooting up to just over $12

Order cancelled

Trade active:

Target 1.$4.35 re-entry $3.60
Target 2 $6.10 re-entry $ $4.80

The next impulse should be in the parabolic channel, previous targets hold but could be maginaly higher