Hello Traders,
McDonald's, the world's famous fast-food seller for burgers and other stuff has may be finishing an impulsive move of high degree.
As you see oat the monthly chart, McD has an unbelievable rush from $0.14 in 1969 to a high @ $218.96 in July 2019! This high is either wave (5) of „5“ or it is wave ((iii)) of 5.
The „problem“ due to this interpretation is that the latter structure of the advance is not clear an impulse to my view. So the chart is open to different interpretations. But none the less, if one more high to come or it is in place, the next big move for McD is to the downside.
A respectable target for this move, which will morph into an a-b-c-pattern or a variation thereof, is at or around the wave 4 low at $150 at first. More bearish potential exists. There is another target for a solid decline, and for you, as Elliott fan`s it is clear to see.
If so to come, this is a „once-in-a-lifetime- trade!
I will update the chart in the coming days and weeks and let you know if enter a short trade in McD!
Have a great Sunday....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
McDonald's, the world's famous fast-food seller for burgers and other stuff has may be finishing an impulsive move of high degree.
As you see oat the monthly chart, McD has an unbelievable rush from $0.14 in 1969 to a high @ $218.96 in July 2019! This high is either wave (5) of „5“ or it is wave ((iii)) of 5.
The „problem“ due to this interpretation is that the latter structure of the advance is not clear an impulse to my view. So the chart is open to different interpretations. But none the less, if one more high to come or it is in place, the next big move for McD is to the downside.
A respectable target for this move, which will morph into an a-b-c-pattern or a variation thereof, is at or around the wave 4 low at $150 at first. More bearish potential exists. There is another target for a solid decline, and for you, as Elliott fan`s it is clear to see.
If so to come, this is a „once-in-a-lifetime- trade!
I will update the chart in the coming days and weeks and let you know if enter a short trade in McD!
Have a great Sunday....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!