MONACO (MCO) Update: How would I ladder into MCO?
Here is the ladder I would setup for MCO, based on my prior video analysis last night. If I wanted to buy 1,000 coins, I would concentrate 800 evenly amongst the black dotted price points and the rest divided amongst the purple regions. Of course, you can modify it in any way that fits your need.
You believe MCO is going above 20 again?
Damn yeah! However, the correction must first complete!
I believe so as well.
I'm a TA, and so rely on Elliott Waves which states that the news or event shall arrive to justify the forecast and not the reverse.
I have been looking at it. Is there still a correction. Its been down to 7 and now going up.
It all depends on Bitcoin. IF BTC completes the e wave of the a,b,c,d,e pattern, yes, ALL coins will go lower too.
Thanks for reply haejin. Appreciate it. Also I wanted to get your opinion in bot trading. I have noticed alot of it on exchanges. Even now. Lots of penny orders. I think they are artificially keeping the price up until more volume comes in. I believe people are noticing it. Volume is so low on gdax right now. It went down 35k in the last few hours yeat the price hasn't moved down much. Do you think this is a legal practice or it is being manipulated by exchanges or third party. It makes me very uncomfortable. If its third party Its even worse because they can control the price so much. The price should be tumbling right now I think but its not because of penny bots. Volume I mentioned was for eth on gdax. Its literally down 30k+ on gdax in a few hours.
I guess the best answer is an example. Does the Federal reserve make the rates or do they follow the rates? Take a look at this video.
https://www.elliottwave.com/Interest-Rates/Do-Interest-Rates-follow-the-Federal-Reserve-or-do-interest-rates-lead-and-the-fed-follows
I say that the bots don't make the market, they follow the market.