OMG: Wolfe Wave Geo
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OMG in a possible WW pattern.
4hr MACD crossing 0.
Market eyes point 5 of line 1-3.
Technicals of WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should CONVERGE always
5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON), or Point 5" (RAREST EVENT) - This would constitute a BULLISH WW
6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON), or Point 5" (RAREST EVENT) - This would constitute a BEARISH WW
7 - A NEW line should be defined, connecting Point-1 and Point-4, as follows:
4hr MACD crossing 0.
Market eyes point 5 of line 1-3.
Technicals of WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should CONVERGE always
5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON), or Point 5" (RAREST EVENT) - This would constitute a BULLISH WW
6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON), or Point 5" (RAREST EVENT) - This would constitute a BEARISH WW
7 - A NEW line should be defined, connecting Point-1 and Point-4, as follows:
Note
This is funny!I found on my past charts this (nice surprise)
Note
Comparing the above picture i have sorted a new WW pattern that could play nicely.Although we need to break above strong resistance: 4hr - MA100 , MA50
If market BACA (breaks above closes above) 10usd we could rally to line 1-4.
Note
support targets hit.
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