You are here
OmiseGo OMG – Jan 9 Technical Analysis, Long Entry $23-$34, Target 40% @ $32.50 Uncategorized 

OmiseGo OMG – Jan 9 Technical Analysis, Long Entry $23-$34, Target 40% @ $32.50

hi everybody how is it going so today we’re going to look at home easy go it’s been a while since we’ve looked at this coin and I do miss it because I was training in a since about $0.50 all the way back in August so let’s take a look at it it’s a January 9 10:00 in the morning right now and we’re gonna do an Eliot wave count so for those that are new to my channel I am an elegant wave technical analyst what I’d like to do is count waves or also known as fractals and these fractals they add they flow in all charts in the same manner and in the same type of crepin pattern but just sits in different styles put it that way they all mean the same thing but they just do it in relatively slightly different ways so this is waves one two three four five all waves all impulse motor waves are moves up options they have five waves it is just how it goes in every single chart and it’s based off of Fibonacci numbers so Fibonacci is found everywhere in nature and then you eventually get some sort of ABC correction now what I like about what I like about Elliott Wave is that there’s a lot of rules and guidelines that you can use that can deduce certain things I’m just trying to look for my drawing tools there we go awesome awesome so for example in waves one two three four and five wait for does not really retrace to wait one territory by more than a slight wick you know I make some exceptions sometimes if it’s a lot I definitely wouldn’t count it if it’s for a longer than like depending on the time frame right you don’t see on the 15-minute time frame if it’s more than two candles I won’t count it so anyways so Eagles like this one two three four five and within each sub wave as well there’s five five waves up like that as well wave three is often the longest and it is never the shortest so wait three could be shorter than wave one how long as it’s longer than wave five and wave three could be the way 5 long as it’s longer than wave 1 so that’s what we use to count the wave and to give us an idea of where we are the market cycle and to see if there’s progression or if there’s correction so man do you guys remember when I made all these predictions remember when I made this first prediction right here that a musical would hit at least a 1 to 1 ratio and I did a an aggressive and conservative one and I literally predicted this mark right here like two months ago nineteen dollars and twenty seven dollars I might have done a conservative one as well like this why target is seventeen dollars and 25 12 we’ll check out like a month ago with my YouTube videos I can’t believe that it did it and I’m not surprised right now it’s it’s look at this right now it’s parabolic right so it’s hitting a lot of milestones right now and big question is gods are we in a correction phase or are we not in a corruption phase right now so if we were in a corruption phase we would know it put it this way okay first of all let’s look at the daily chart the daily chart right now is still going upwards right looks like it’s about to curve but not after one more run so we are looking really good right now in the 4-hour charts here we are definitely finding support right now and it is not the kind of support that is down the trending it is this kind of support right here so this kind of support where it is like a descending bullish wedge and this is waiting to pop oh right it’s just waiting to break out to the upside it is absolutely finding support there that’s what I’m liking about this pattern so it’s yeah it’s gonna down tick slightly but then it’s gonna do something like this right here on the three-hour chart where you get them it bullish ly diverges and these lows are not as low as the previous ones over here other than we keep moving down like for example this is the perfect example as well another one our chart right it’s bullish Li diverging right here because it’s finding support here we’re getting also a higher high on the RSI on our chart which is a very good indication as well which will be making a symmetric triangle I’m very confident gonna break to the upside and you guys will hear my deduction on my arguments so here we’re gonna go back to the daily chart what right now what we would like to do is verify we’ll just take this one here right what we want to do is something like this we want to know hey is wave 3 done or is it not done that is the big question right now that we want to know and no it is actually not done at all and I’m gonna get into why it is not done okay give me one second here this screen is so bad sometimes yeah one hold on I can’t remember how I counted this actually okay now I remember I counted this like this one two three four and the fifth one is somewhere up there so we’re making we’re making way to some actually this is a third one right there let’s take fourth is actually right down over here not this position but it actually corrected over here already and then we have one more final wave that will be around $35 psychological number something like that we’ll see okay and how do we know the question is how do we know this is not the end of wave three right people would argue that this is wave this one two three four five this for example it’s one two three four at five right people would argue that but guys the reason why it is not like that is because this specific one right here this specific wave right in here hold on am i counting this ray I think I’m like counting it wrong give me a second here guys okay I know what I did I count that this as my first wave but I don’t want that as my first wave actually I want this one is my first wave right here and I still call this all corruption phases 1 2 3 4 is already happened and then we’re about to finish the final wave right here why does this one not count right here because I still considered part of the corruption phase in general I mean you could calculate wave 1 from here you’ve arguably then that’s fine as well right I’m sure there’s a small wave in there somewhere that we just don’t see there let’s double check it oh yeah don’t you yeah exactly so we could have calculate one from there as well which is absolutely acceptable I’ve shorted Oh music oh I’m pretty happy with my short right now I can’t complain sorry I’m just looking at my own music oh short right now I showed it because there’s one more one more touch to be made when we’re touched to be made around twenty-two twenty-three dollars which I’ll get to as well okay so this looks really good doesn’t it right now we need to verify this wave count right here to make sure that we are accurate okay now wave four does not retrace like I mentioned into the territory of wave 1 by much I keep some very specific rules and we’ll get into them okay so we want to verify first of all for example this guy right here is it a five wave count that’s actually a really nice wave right here general definitely it’s five waves this will call week two we’ll call this wave three call this way four and we’ll call this way five right meet a leading first wave for this one here a leading first wave diagonal one two three four five see it makes this zone in here like that that’s called a leading first wave diagonal right which is into a wedge leading leading first waves or ending first waves can be a ledger channel like that but a third wave cannot a third wave must be an impulse wave so like all wedges for first and first and fifth waves the break guys let me let me show you guys what I’m talking about if you don’t know what I’m talking about here okay this is a wedge or a channel all channels break that’s basically just just how they work all channels break eventually for the correction phase okay and that’s not we have the leading first wave agonal in here see it means one two three four fives in there then a wedge and then makes a simple you know ABC type corruption something like that okay and then here we get the five waves this one is not retraced to territory of it actually we don’t see it on this time frame but I’m sure if I zoomed out we would see it all right here there we go now we see okay now we see the five waves here which goes one two three four somewhere in this region right here for and that’s five with a double top pretty much and then it makes a beautiful ABC corruption again a b c with pretty much a one to one exact ratio there this happened them i play these ones pretty well actually just um just small positions of five to ten Katie this one here beautiful five waves as well I’m trying to try to find all of them but sometimes they’re hard to see right okay so this one would be in here there here here and here and if you look closely into the third sub waves here you get the five waves just like that okay that is beautiful right would you guys agree with me that that has now made an amazing frickin five sub waves up for wave three alright that that could not have been any more beautiful I mean yeah I didn’t rate from there but I train it from down here when it was sub 20 it was a pretty nice I didn’t get it on this little flash though sleeping for that guy so right that made beautiful one two three four and five so guys if that was only the third wave there right and this was the first wave only okay and this was the first wave only hold on how do we know this is the fifth wave because finally it retraces deep deep into the territory of wave three okay that’s how we know guys so that’s how we know that that’s ended so this is way one coming up here which I don’t until easy to count it but I assure you that there’s five waves in here okay okay there’s okay I’m just gonna count it just to get out of the way here’s one two two silver here three four and five and I can even count the five sub waves in here one two one two three four five yeah this made a leading first wave as well I don’t really want to try to count that one but this is the one that matters that confirms the three waves up like it’s okay one two three four and five perfect just like that at this one we counted already so the reason why we’re doing all of this is because you guys need to familiarize yourself with where we are or where you are with whatever coin you’re trading at all given times it’s important to know what a coin is doing where you are in the cycle specifically and if there’s a chance for it to go up or down and that’s what Elliott Wave lets us do as well Elliott Wave lets us um take a look at where we are in the cycle that’s what I love about her so now we are on one two three we’re gonna do Fibonacci extension as well just to see where it ended up I’m probably guessing a one to one slightly one to one exact holy cow guys that’s so beautiful it did an exact one-to-one extension for wave three like that’s nature at its finest guys that means guys we are targeting $40 and then we’re gonna do a one-to-one extension again let’s try to just guess unmeasured move here right here and that’s where our target that that’s a little bit extreme the one six money I don’t think it’s gonna hit that to be honest I don’t think it’s gonna hit more than thirty five that’s target guys for the next one and we’re gonna get into why so this is a target basically thirty five dollars and we’re gonna just shoot for like the middle quarter actually let’s just go for $32 jeez I don’t know if it’s gonna hit that actually both of those raids were pretty strong 35 min the high side we’re gonna guess a smaller wave like a quarter or a third let’s just go for 30 bucks what was the all-time high 2850 this one is so arbitrary what I’m doing guys I mean she’s between 30 $32.50 now you know what let’s go 31 okay I know I spent some time on that I’m sorry guys we won’t have an idea until the first waves are done okay now why do I think it’s gonna break out okay well this wave here corrected to the wave three sub wave of the primary wave through here so I know that this is wave three if this was the actual end of way five we would be crapping Wow well over here I mean let’s let’s is rationalized this do we really think that this is the end of wave five based on this tiny correction mmm okay when the wave finishes it does this it corrects this one for example crap it’s six one eight right now what did this one correct you this one crafted to where we’ve two started or ended this one correctly to about point five see because this one crafted much much more so around the six money this one had a chance to correct even um most likely less because it doesn’t retrace back into the territory of wave one by much this one was only by little right and therefore because we ones line right here is actually even well above the three to level this is why we’re getting a beautiful tiny tiny retracement because we wanted the majority of the retracement for us give me a second I’ll be right back alrighty we’re worried right now okay so I showed it Oh music oh right now I know you guys are probably wondering like I have when I short it right well we gotta like take a look at this pattern first of all God take a look at this pattern and see how many touches it’s made so that is a pattern right now I shorted it at twenty four five seven zero actually so I actually got a lot of my positions filled and now it’s just down ticking here so let’s take a look at the one hour chart which looks the best we’re gonna clear all this now that we’ve confirmed this is way for we’re gonna clear all that to keep it clean okay take a look at this resistance beautiful right take a look at the support even more beautiful this one here was established this one here it was very predictable I was in trading what means ago but I saw it coming because well just draw it draw it in whenever you guys see connecting lines some people might think it’s hocus pocus but there’s those times where it lands right on it and it’s like what the heck just happened right there okay I’ll take that so this is the pattern that it’s gonna be making it’s gonna be making an ABCDE pattern a B all this is one actually this middle one C D E so if there is a you know big wedge forming on a four hour time frame there’s chances are if the wedge is the underlying shape or pattern or trend line that that the coin is in right now for consolidation then there’s also a good chance you’re gonna see a lot of wedges generally in that specific coin that you’re training now look at this I mean like this is on the daily chart in general I mean take a look at this guy right here that form right that that was pretty awesome as well so this one made um you know a similar type of pattern in here as well and you see them all the time whether it’s a wedge that one right there made of meat a bullish wedge that was ascending this one here is well in general we’re seeing tons of wedges and spent your triangles not too much I’m like ascending triangles but tons or descending triangles but tons of these types specifically so I mean that looks pretty good right I mean we’re getting its gay rejected every time it comes up here gets rejected every time pretty hard so these are making like threes one two three one two three one two three one two this one made a five one two three four five these always make five one two three let me show you like this so this is a 335 right this one just the wicks are cool I’ll accept it so I made a one two three four five actually yeah that one made five estimated maybe see maybe see here so this made a three ABC pattern homeys it go like that so this is really satisfying to tray this see those time we’re seeing whips and repeats seeing people sell-off it’s being pulled left and right in both directions right now but what we see more importantly on the five-minute chart is that these are getting consistently lower and lower to the point where it’s forming a trend resistance trendline resistance that’s making it bearish this is also snapped very high there so it looks like it wants to step back down you know I’d stop smoking weed in the mornings because makes me feel so groggy I’m gonna go back to bed right after this I woke up like at 5 in the morning did my thing no made of crazy ripple call I predicted exactly 2:35 with the soft loss of two dollars and it came to two dollars and ten cents Kay came ten cents within my stop-loss but then it hit exactly thirty five dollars often those that I predicted it was a really good ten percent gain I played a twenty thousand dollar position there with them I think a thousand ripple or something it’s pretty awesome can’t complain about that it was nine thousand or 10k under so here we go ripple I’m you know easy go even on a three minute chart we are getting lower series of lower lows on the histogram one minute alright and looks like he wants to break out this guy right now that’s trying to push it up with a big wall with like eight thousand coins so that’s 240 K but it’s not really going up I mean I’ve got even more short positions hoping for a guy to spike the market to like 24 65 or something like that so it’s really hard to argue that this is not the right pattern right now right I mean it’s so clear it’s gonna go up 100% it’s gonna go up but I think it’s gonna go down a little bit and it’s gonna make a little more touch here that’s just how ABCDE patterns work see this one already made in ABC in here right this is the ABC actually that could even be a five-way of no there’s no way I’m counting it I’m too lazy right now it’s not on a five minute time frame it’s a little bit too low okay now where do we expect targets right we’re gonna we’re gonna go over this again they’ve all made one-to-one exact targets for exactly extensions oops not this one here oh geez I think I did that part wrong right here oh yeah I definitely get the darker no I didn’t finally someone fill my short orders okay and this one hit a one to one so we were gonna assume that this one would hit shy of it let’s write I remember now and we were gonna do $35 conservatively and 30 to 50 that’s a target guys no drill this is going to be your setup if you decide to take it okay if it breaks up you know you can buy it you can even buy it buy in the bottom of e right here okay you can buy in the bottom of e if you are very very risky right you don’t know you can buy another breakout if you have to be conservative me what I will do is I will buy on eat right here because I’d rather get it out $23 14 cents then 2358 but for all also other reasons I can also identify if it does go up it will go up slightly right and I can take profit very quickly if it does decide to change the other wait some people would rather have more confirmation and bindin breakout so their entry might be a little bit higher right some people Michael into a short position or some people might think it’s going to go down it’s definitely possible that the market like that people will think it’s gonna go down right now so there’s gonna be some people shorting it as well let everyone is going to be on greening that it’s gonna go up right so some people might be in a different position as well so we’re gonna we’re gonna towel very soon but I do believe this is only wave 3 and wave 4 is just consolidating right here and now we’re gonna get a big breakout up so what I am going to do is I’m going to wait patiently tell about the $23 zone right here and I am going to ride the sky to a minimum I’m gonna go to conservative target of 35 $32.50 timeframe I’ve got no idea time frame could be a while you never know but that is how it’s looking so far I just based on all the TA that I see here it certainly looks like it’s going to go in that general direction up so if I did that and I also assume same tzimmes same symmetry sort symmetry you know we could be looking at on January 18 will stay January 18 decent right here that is the play for a 40% in game that is coming up soon 40% guys that’s right 4-0 you heard me right okay 40% a game and the stop loss will be sat I will say $20 that’s going to be my stop loss $20 on the nose so my risk to reward ratio is three you guys tell me if that’s worth it or not for a risk to reward ratio like that huh I absolutely think that it is worth it so let me write out the scenario for you and I’ll be right back okay guys here it is here’s my trade call risk to reward six to one that is right you heard me six to one versus reward ratio it almost be silly not to take this trade to be honest okay andshe prices between 23 to 24 dollars I do expect that ABCDE corruption to still take place as I mentioned so be patient gain or buy it upon break oh it’s up to you guys you know I’m definitely you know it hasn’t broken out yet it hasn’t broken out at all it’s it’s just hovering right now let me show you see look it hasn’t broken out in fact there’s only wits poking out of it right now see the highest seven eight zero we’re down ticking to six to zero right now people are actually selling quite a bit so yeah I don’t be patient guys be patient and wait for along this bottom row here to form okay I like I can’t do it on the one hour chart it’s hard this is not this is not this is not a break okay guys like the volume doesn’t support it really right now it needs somebody clock much much much more than that and those can be bull traps like so you guys just have to be patient if you look under the higher time frame right you see with just poking out of it like here so yeah so to the entry so the entry is where is it is between twenty three to twenty four dollars target one is thirty to fifty target two is thirty-five it’s more aggressive you guys can wait see how it goes stop-loss is a hard twenty dollars right chunks in game twenty or thirty eight percent and a chance to lose six point three eight percent so I think that’s a very good ratio for it to break out there once again we were waiting for eighty you know B C D and E to finish in here you can call kind of like a flag consolidation as well where it’s like one no two three four and one more when we’re touched to the bottom would satisfy and much more in my opinion so we’re gonna wait see how this goes okay just wait to see how it goes for all we know it could defy all Elian wave and it can just go up but that is the trade that I will recommend to everybody and then if you take it good luck there could be and some immense profits to be made right we can’t win every single trade but we try to win as many as we can and we try to win over time more than we lose all right so sure this one could be a losing trade it doesn’t matter but you guys know me well enough to understand by now how I think and we win some we lose some but it doesn’t matter because we try to win more over time so who cares about losing all that matters is that is that you win profitably and consistently over time and just if I can give advice to anybody okay it’s a dumb you guys are really really hot you know you were just super hot you’re on fire walk away walk away take your profits while you can you know if you’ve made a few good trades a day just take a step back you know you if you’re on fire you need to be cooled once in a while otherwise don’t make bad decisions that may be hot hand fallacy comes into play I used to lose a lot of money you know like in say 2017 when I felt hot at the table right but then sometimes you just got to take your chips away and then you just got to stop playing for a little bit otherwise you might just send them to do something stupid so once again good luck to the people that take this trade if you guys enjoyed my videos you know please upvote them let’s steam it I’d really appreciate that if you guys some really loved them you know please follow me share like subscribe I also have a have the Twitter that I run if you guys don’t know about it where I meet a lot of useful informations I try to help people oh and if you guys especially love this video you guys might have might know my dog really well luna she’s and she’s featured a lot of videos you guys are welcome to donate to her cryptocurrency fund don’t ever feel obligated to so some people have asked for it in the past and it just makes them feel good to help out the community you know so you guys are welcome to if you want to other than that have yourselves a wonderful day and good luck to the people that after this trade once again

Related posts

Leave a Comment