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:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Hi i just up voted you.....nice content..... Hit me up for some more up vote..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great post! I remeber when MCO tanked after the Visa news last summer. Any thoughts on their partnership?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Definitely, the next few days seem very critical ... thanks for sharing
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
its crazy how much content you produce! thanks for this information. im watching daily on youtube as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
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
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great analysis, thanks for sharing. I'm happy with sideways movements just not a possible downtrend.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Such analysis help us to invest on the right time and minimize our risks .@cleverbot@banjo
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wait, you are a girl?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thanks sir for sharing
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @haejin, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 30 and the total pending payments to posts in these categories was $2072.30. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 228.77 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit