On the bigger TF, I'm bullish on OMG but on shorter TF I'm starting to think we might see one more leg down. Bearish divergence on MACD is one the reasons.
I expected yesterdays correction but the bounce is not convincing me (yet).
We might get a bigger ABC correction from the blue box in left picture toward (4), from there we should bounce to (5).
Breaking the yellow trendline invalidates these thoughts.
Happy trading!
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Price went a bit higher as expected but due to weakness in btc, I'm expecting that the ABC correction will be made. Raised the blue box a bit due to the higher bounce.
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Target reached, I added to my position. Lets get back to business and bounce!