OmiseGO (OMG): Bullish Jaws of Wealth Setup

SUMMARY

I coined the idiom "Jaws of Wealth" to emphasize the profit potential of almost any instance when price is sitting on the bottom trendline of a broadening pattern. The below chart of OmiseGO (OMG) is doing exactly that. The blue broadening lines show that OMG had touched the top and bottom trendlines per the ABCDE wave cycle. I believe the recent bottom line touch marked the D wave. After D; the E wave is next and that's a ver high target to the top trendline.

The subwaves of the E wave are shown in white and blue. I've labeled it as a ZigZag (5,3,5) sequence of waves up. IF this projection is correct, the price ascent will be a jaw dropping, sight to behold.

Note the white circles. While price has been rising, the MACD has been falling. I believe MACD is likely to soon turn up so that price can resume putting in higher highs.

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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