SUMMARY

This pattern chart of OmiseGo (OMG) is quite impressive! Two bull flags supported by an MACD moving within a symmetrical triangle pattern. Price has also not been hitting a lower low; as if the $7.37 level was a iron strong support.

By adding the additional layer of symmetrical pattern to price (blue lines); the sequence of the blue ABCDE waves fall into place quite nicely. As I've written before, when bull flags are embedded within a larger pattern, the bullish potential becomes much stronger. IF the blue symmetrical triangle is adhered to, then price needs to put in the blue D and E waves and so the current bounce could be working on the D. However, be aware of the white arrow pathway because should the MACD burst our, price could breakout at the D wave and not necessarily complete the E.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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