Ok big dub'ya, Let's have a look at the potential of this one...

Ok big dub'ya, Let's have a look at the potential of this one together. If you go to your MEM chart showing BBs, 50 & 20DMAs.
Based on my approach what I am observing/expecting is:

• SP broke through the top BB and deflected sideways in an overall uptrend (normal - hold)
• 50SMA then converged and broke through the bottom BB - no significant SP pullback as it's in an uptrend (hold)
• 200SMA then broke through the bottom BB - no significant SP pullback (where I'd sell - or wait for the bump to sell)
• Currently >> 50&200SMA tracking below bottom BB for about 1 week - wait for SMAs to converge with and re-enter bottom BBs. I'm expecting the BB to widen ie bottom BB to dip (wait)
• The 50SMA will be the 1st to converge with/dissect the bottom BB with SP at ~ 4.5c (wait)
• The 200SMA should follow suit (in about 2 weeks from now) and converge with/dissect the bottom BB with SP at ~ 3.5c. The 200SMA has also been in play on this occasion which reinforces trends. The SP could fall below 3.5c as it will then have significant downward momentum and there will be an element of fear selling. The term 'average' requires that the SP actually spend time and depth below the average level. There's a support/resistance level at 3.2c, so I'd be looking at that as a possible entry point to trade from. (watch, with a view to buy when you see a bottoming candle)

How does this align with your understanding of Fib/Elliott?
btw I managed to do as you suggested re MCD's - great! Thanks
Now it's just the proper set up of the Fibs
Cheers