$OMG one more leg down to complete correction?

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!

Kommentera:

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.

Kommentera:

Target reached, I added to my position.
Lets get back to business and bounce!