Monaco Target $39.14 (398% Profit Potential)
SUMMARY
Monaco (MCO) is an attractive coin that can make you profits! It completed a very nice impulse wave followed by the requisite a,b,c retrace. I use Elliott Waves and Chart Patterns to forward discern probable price pathways. Here, an ascending right triangle pattern can be identified (white horizontal and rising lines). The minimum price target for this pattern is $39.14 for a MASSIVE profit potential of 398%!!!
Forward discernment takes practice and lots of failure experiences. However, just like any endeavor, practice brings you closer to consistency. Patterns can at times morph into another pattern. To that end, the purple line traces out a possible rounding bottom formation. Just like how Elliott Waves has more than one count possibility, chart patterns too can have multiple pattern possibilities. But for both EW and Patterns, they often lead to the same destination! The video has more details.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
Very nice analysis. I love it.
Please I have a question regarding the entry into trade after wave C completion.
My question is does one get out of trade if the impulse waves i, ii, iii, iv and v of the Elliot Wave 3 failed to progress as we have witnessed in BCH in the last two days?
Thank you once again.
Yes, always use stops.
It dropped down to below $7, it will be interesting to see what happens
Yes, my call remains same. Please consider purchasing the two Technical Analysis books. These will allow you to be more tooled and not have price flicks effect you at all.
https://steemit.com/bitcoin/@haejin/n98sk-haejin-s-ta-book-recommendations-for-elliott-wave-and-chart-pattern-recognition
great post.thanks for sharing @haejin
I got some will see how it goes, nice analysis
Nice post I like this post thanks for sharing this post........
So nice what you said Haejin about "teaching us to fish", thank you so much Sensei!
I wish you MASSIVE porfits!