MCO Has the Potential to Increase by 100 Times
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The title of this post is a bold statement. Notice the word potential. Please do not construe this post as investment advice.
Why do I think this token has the potential to increase by 100 times?
Well, let's consider the magnitude of wave 1 which rallied from $0.63 to $28.99. That's an increase of about 46 times!
Wave 2 reduced the price by more than 86% from $28.99 to $3.91.
Wave 3 comes next which is typically the most violent wave and can be larger than wave 1.
Let's assume that wave 3 has the same magnitude as wave 1. That would imply a peak at about $180 for wave 3.
Now, let's consider the case where wave 3 is smaller than wave 1 which does not violate Elliot wave rules provided wave 5 is smaller than wave 3. Wave 3 cannot be the shortest of the impulse waves.
So, we can arbitrarily select 1.618 Fibonacci level as the sell target. This would put the price at $49.80. This is the most common target for a wave 3.
Finally, there was one example of a subwave 3 that reached the 15.72 Fibonacci level. This happened when the price rose from $0.78 to $20.12. That particular wave was an extended wave consisting of 5 impulse waves.
If MCO reaches the 15.72 Fib level during large wave 3 then the price would be about $450. That's more than 100 times increase in value!
Therefore, my sell zone ranges between the most realistic target (1.618 Fib level) and the most ambitious target at the 15.72 Fib level.
Lastly, take profit when it makes sense. Don't get too greedy and miss the opportunity to sell at a climax. I speak from personal experience.
Why do I think this token has the potential to increase by 100 times?
Well, let's consider the magnitude of wave 1 which rallied from $0.63 to $28.99. That's an increase of about 46 times!
Wave 2 reduced the price by more than 86% from $28.99 to $3.91.
Wave 3 comes next which is typically the most violent wave and can be larger than wave 1.
Let's assume that wave 3 has the same magnitude as wave 1. That would imply a peak at about $180 for wave 3.
Now, let's consider the case where wave 3 is smaller than wave 1 which does not violate Elliot wave rules provided wave 5 is smaller than wave 3. Wave 3 cannot be the shortest of the impulse waves.
So, we can arbitrarily select 1.618 Fibonacci level as the sell target. This would put the price at $49.80. This is the most common target for a wave 3.
Finally, there was one example of a subwave 3 that reached the 15.72 Fibonacci level. This happened when the price rose from $0.78 to $20.12. That particular wave was an extended wave consisting of 5 impulse waves.
If MCO reaches the 15.72 Fib level during large wave 3 then the price would be about $450. That's more than 100 times increase in value!
Therefore, my sell zone ranges between the most realistic target (1.618 Fib level) and the most ambitious target at the 15.72 Fib level.
Lastly, take profit when it makes sense. Don't get too greedy and miss the opportunity to sell at a climax. I speak from personal experience.
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