Monaco (MCO) Bottom Options

in #monaco4 years ago

SUMMARY

MCO/USD shows that the initial impulse was followed by an abc corection. Current pattern shows a symmetrical triangle pointing downwards an the abcde labels seem complete. For confirmation, a breakout is needed and perhaps that could occur during overnight price action.

For MCO/BTC; there are several ways to Elliott Wave label the correction. It could be with the red abc which would indicate completion of the corrective bottom. However, given that the /BTC pairs usually lag the /USD pair counterparts, the blue abc is more likely.

The preferred way could be via WXYXZ markers. The Z wave would match well with a triangle pattern at the terminal end of a triple combination. IF MCO/BTC is lagging the MCO/USD a bit; then price could meander sideways a short while longer.

Legal Disclaimer: 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.

Please consider reviewing these Tutorials on:
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Hi i just up voted you.....nice content..... Hit me up for some more up vote..

Great post! I remeber when MCO tanked after the Visa news last summer. Any thoughts on their partnership?

Definitely, the next few days seem very critical ... thanks for sharing

its crazy how much content you produce! thanks for this information. im watching daily on youtube as well.

I don't Post Often but Monaco is something i'll be buying for a longterm hold, IF it comest to fruitition and gets a bit more popular it's gonna be amazing, I mean actual Visa cards being rolled out to 17000 people in singapore

In China everyone pays with QR codes on Alipay or Wechat. Just another perspective, perhaps physical plastic cards are a bit antiquated.

Great analysis, thanks for sharing. I'm happy with sideways movements just not a possible downtrend.

Such analysis help us to invest on the right time and minimize our risks .@cleverbot@banjo

Wait, you are a girl?

thanks sir for sharing

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