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MCO Analysis of Previous Elliot Wave Cycle
The previous Elliot wave structure may provide some insight regarding buy and sell targets for the next bull run. The Fibonacci levels featured on the chart are extremely precise.
It should be noted that blue wave 2 retraces past the beginning of blue wave 1 which violates Elliot wave rules. However, it makes sense to count it as a wave 2 based on what follows.
It should be noted that blue wave 2 retraces past the beginning of blue wave 1 which violates Elliot wave rules. However, it makes sense to count it as a wave 2 based on what follows.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.