Description
⋅ Today, we will share our View on MCD
Key elements we can see on the chart:
a) The price is above a resistance zone; currently, we can see a corrective pattern on the edge of that level
b) Now, we are observing a breakout of the structure that has been on a range for 150 days
c) Our Activation level is the green line; if the price reaches it, we will consider that the setup is ready to execute
d) The red line below the structure represents the invalidation level or the stop-loss where we will cancel or close our setup
e) The first fibo extension is the break-even level where we will move our stop loss to the entry area
f) The second fibo extension is the target of the movement we are expecting
g) The risk we will take on this setup is 1% of our capital
h) The ascending movement can last between 3 to 4 months
Thanks for reading!