MCDONALD’S CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 291.84 |
| Take Profit | 232.76, 191.30 |
| Stop Loss | 300.00 |
| Key Levels | 191.30, 232.76, 300.00, 315.00, 330.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 300.05 |
| Take Profit | 315.00, 330.00 |
| Stop Loss | 295.05 |
| Key Levels | 191.30, 232.76, 300.00, 315.00, 330.00 |
A fall is possible.
On the weekly chart, the third wave of the higher level 3 ended, and a downward correction develops as the fourth wave 4. Now, the wave of the lower level (А) of 4 is forming, within which the first wave 1 of (A) ended, a local correction formed as the second wave 2 of (A), and the third wave 3 of (A) is starting to develop. If the assumption is correct, the price of the asset will fall to the area of 232.76–191.30. In this scenario, critical stop loss level is 300.00.
Main scenario
Short positions will become relevant below the level of 300.00 with the targets at 232.76–191.30. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 300.00 will let the asset grow to the area of 315.00–330.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.