Short-term trade on MCK. The 15m chart shows a clean 5-wave decline from 160 to 142.50, with nice alternation between Wave-2 and Wave-4. A 3-wave correction back into the 50% retracement level offers a good short opportunity. Initiating a short position with an immediate target at 142.50. A move above 157.50 invalidates the setup.
Trade closed: target reached:
MCK down on the open and through my target. Closing trade for a profit.