LIVEIn light of my previous forecast on #ONG returning to the golden ratio, 1.618, a few people have been asking me if the price will go up again as they bought well above .62. While no one can predict the TIMING of market movements, markets by definition will go down and will go up largely dependent on the whims of people. The trick is to make an intelligent guess (and that's all it is!) as to how high and how low and then wait to be proven wrong or right. If you're wrong, there's almost certainly something you missed and if find out and correct that you become better next time. With that in mind, below is the ONG graph but this time on 1 month candlesticks with Fibonacci ratios imposed. As you can see, the long-term view (possibly months or years but could be weeks ) is that the golden ratio is at $8.42! So if you have the emotional fortitude to wait that long then even if you bought at .82 you're ok. This is by no means guaranteed but it's an intelligent guess in the dark so DYOR and adjust accordingly. That's why I was short term bearish and long-term bullish. The longer the view the wiser the intention.
