$OMG USD 4H — Looks like $OMG is headed toward that moment of truth point where it’s either going to go up or down in price.
Let me illustrate this a bit better:
If the price ends up in red — short it/exit positions. If it ends up there the green arrow and green circles — go long on here.
Let’s check this out on some higher time frames to make sure that the same pattern holds.
From what I can see here on the OMG USD 4H TF — It looks like the price is trading between the EMA 50 and the EMA 200. Once again, this is something to watch for here.
As the price is consolidating in the region that I placed a golden block on above ^ you’ll see that the divergence between the EMA 50 and EMA 200 has halted as well.
Another thing to note:
Since the price broke below the EMA-50, this is now the resistance point. And the EMA-200 is serving as the support.
Conversion Line > Price = bearish indicator on the Ichimoku for OMG USD 1D chart. That’s a big boy signal right there.