I wanted to show an example of how I use my FOMO prescription (Keep my average price under the 23.6% Fibonacci Retracement Level) in a real time example.
Note: I drew the Fibonnaci Retracement range from 0.00 to the All Time High to maximize the range and not have to move it should price move past the last low...Can't move past ZERO!
Back in May, I decided to dip my toe into AERGO.
I don't know anything about it...still don't really, but I like the price movement on the chart and the clear Elliott Wave counts.
Based on my Elliott Wave analysis at the time, it looked like the major correction at higher degree could have completed.
So I decided to buy 500 tokens at .1633 on May 12, 2022 (shown by the dotted green line on the chart).
Today, I'm reviewing my charts and see from the time I made my last purchase, that another significant leg down has occured, with a sharp spike up, then a correction back down, and now starting to rise again.
While the C wave may be complete, it is also possible that price is in a 5 wave move down to complete the C wave down.
But regardless, the 500 tokens I purchased is OVER my target average price I want to under at .1416.
So true to my FOMO DISEASE (I can't wait for price to fall lower...I MAY MISS OUT), I decided to go ahead and purchase JUST ENOUGH to bring my UNDER my target of .1416 (You can use any level you choose based on your own risk tolerence).
I purchased 500 tokens at .1100 (including the transaction fee) which now gives me a total of 1,000 tokens at an average price of .1367, well under my .1416 targetl
Whew...now I don't have to worry and watch and react...I'm just fine right here...great medicine!
What's funny is that now...I WANT price to be in a 5 wave down to make a new local low where I''m free to WAIT and if price falls, and especially considering that once this wave 2 down completes, wave 3 up will begin and take price considerably higher, I can add significantly to my position for the longer term; 3-5 years.
I left the first purchase on the chart to show you but will take it off now that I'm done with this post.
I love the price action on this chart and do plan to ultimately have about 10,000 tokens if price moves down enough.
Be sure to hit that Like button and leave a comment if ya like!
Check out my FOMO RX - AUDIO post with the link below to see why I started this.
Note: I drew the Fibonnaci Retracement range from 0.00 to the All Time High to maximize the range and not have to move it should price move past the last low...Can't move past ZERO!
Back in May, I decided to dip my toe into AERGO.
I don't know anything about it...still don't really, but I like the price movement on the chart and the clear Elliott Wave counts.
Based on my Elliott Wave analysis at the time, it looked like the major correction at higher degree could have completed.
So I decided to buy 500 tokens at .1633 on May 12, 2022 (shown by the dotted green line on the chart).
Today, I'm reviewing my charts and see from the time I made my last purchase, that another significant leg down has occured, with a sharp spike up, then a correction back down, and now starting to rise again.
While the C wave may be complete, it is also possible that price is in a 5 wave move down to complete the C wave down.
But regardless, the 500 tokens I purchased is OVER my target average price I want to under at .1416.
So true to my FOMO DISEASE (I can't wait for price to fall lower...I MAY MISS OUT), I decided to go ahead and purchase JUST ENOUGH to bring my UNDER my target of .1416 (You can use any level you choose based on your own risk tolerence).
I purchased 500 tokens at .1100 (including the transaction fee) which now gives me a total of 1,000 tokens at an average price of .1367, well under my .1416 targetl
Whew...now I don't have to worry and watch and react...I'm just fine right here...great medicine!
What's funny is that now...I WANT price to be in a 5 wave down to make a new local low where I''m free to WAIT and if price falls, and especially considering that once this wave 2 down completes, wave 3 up will begin and take price considerably higher, I can add significantly to my position for the longer term; 3-5 years.
I left the first purchase on the chart to show you but will take it off now that I'm done with this post.
I love the price action on this chart and do plan to ultimately have about 10,000 tokens if price moves down enough.
Be sure to hit that Like button and leave a comment if ya like!
Check out my FOMO RX - AUDIO post with the link below to see why I started this.
