McDonald’s Corp.(MCD) MCD Elliott Wave Technical Analysis 29 January 24

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MCD Elliott Wave Analysis Trading Lounge Daily Chart, 29 January 24

McDonald’s Corp.,(MCD) Daily Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Wave (c) of {ii}

POSITION: Minute(Blue) wave {ii}

DIRECTION: Higher degree Minor wave 5.  

DETAILS: Looking for further upside into wave 5, knowing we could already have topped, which is why we are waiting for upside confirmation.

 

 

 

 

MCD Elliott Wave Analysis Trading Lounge 4Hr Chart, 29 January 24

McDonald’s Corp.,(MCD) 4Hr Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Wave v of (c).

POSITION: Sub minuette wave v of (c).  

DIRECTION: Higher degree wave {ii}.

DETAILS: We need to break north of the green line with a break of previous wave (b) top. A break south of the red line would invalidate the count and would suggest we have a wave 5 in place.