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GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 13, 2020

McDonald’s Corp.: wave analysis 13 February 2020, 08:47


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 217.43
Take Profit 186.43, 170.20
Stop Loss 221.92
Key Levels 170.20, 186.43, 221.92, 235.00, 250.00
Alternative scenario
Recommendation BUY STOP
Entry Point 221.95
Take Profit 235.00, 250.00
Stop Loss 217.60
Key Levels 170.20, 186.43, 221.92, 235.00, 250.00
The price can fall.
On the daily chart, the development of the third wave of the higher level (3) was completed and a downward correction as the fourth wave (4) is forming. At the moment, a lower level wave A of (4) has formed and the upward correction as a wave of B of (4) is completed. If this assumption is correct, it is logical to expect a decrease in the price of an asset in the wave of C of (4) to the levels of 186.43–170.20. The level of 221.92 is critical and stop loss for this scenario.


Main scenario
Short positions are relevant below the level of 221.92 with targets at 186.43–170.20. Implementation time: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 221.92 will let the asset grow to the levels of 235.00–250.00.

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