Our Stock of the Day / MPLX
Today, we have a long setup to share. Here you will have a full explanation
a) We always start with the Weekly or Daily chart to see the most relevant area. There we can see huge support that provides us with a bullish context
b) On the 30min chart, we can see the price above the weekly support zone
c) There we have a corrective structure on a key level
d) Based on that, we will develop a long setup expecting a breakout of the corrective structure with a target on the descending trendline
e) Entry Stop and Take profit are the ones you can see on the setup. The break-Even level is the yellow horizontal line
f) We will cancel the setup if the price goes below the corrective structure
g) We will risk 1% of our capital on this setup
h) Remember: Trade safe, protect your capital, and always understand what you are doing.
a) We always start with the Weekly or Daily chart to see the most relevant area. There we can see huge support that provides us with a bullish context
b) On the 30min chart, we can see the price above the weekly support zone
c) There we have a corrective structure on a key level
d) Based on that, we will develop a long setup expecting a breakout of the corrective structure with a target on the descending trendline
e) Entry Stop and Take profit are the ones you can see on the setup. The break-Even level is the yellow horizontal line
f) We will cancel the setup if the price goes below the corrective structure
g) We will risk 1% of our capital on this setup
h) Remember: Trade safe, protect your capital, and always understand what you are doing.
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