📈
🔹 Ticker: MCHP (NASDAQ)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Falling Trendline Break + Support Reclaim
🔸 Breakout Price: ~$48.47
📊 Trade Plan (Long Position)
✅ Entry Zone: $48.40–$48.50 (bullish breakout + yellow resistance zone retest)
✅ Stop Loss (SL): Below $47.62 (white support zone – structure low)
✅ Take Profit Targets:
📌 TP1: $49.63 (red line – minor resistance/supply zone)
📌 TP2: $50.81 (green line – previous high / major resistance)
📐 Risk-Reward Ratio
📉 Risk per Share:
$48.47 - $47.62 = $0.85
📈 Reward to TP1:
$49.63 - $48.47 = $1.16 → 1.36:1 R/R
📈 Reward to TP2:
$50.81 - $48.47 = $2.34 → 2.75:1 R/R
🔍 Technical Confluence
📌 Falling Trendline (pink): Finally broken with volume picking up
📌 Demand Zone Support: Bounce from ~$47.60, confirming buyers stepped in
📌 Yellow Zone: Acts as breakout retest + confirmation trigger
📌 Volume Observation: Look for volume continuation above yellow zone
⚙️ Execution & Risk Management
🔄 After TP1 Hit:
— Move SL to breakeven
— Book 50% profits
📈 Let the rest ride to TP2
📉 Use a trailing stop method above each support level
⚠️ Invalidation Signals
❌ Close below $47.62
❌ Breakout without follow-through
❌ Sharp rejection from yellow zone = fakeout risk
🦅 Final Thoughts
✔ Textbook reversal pattern
✔ Strong structure + tight risk = smart setup
✔ High potential for upside as market reclaims control
🔹 Ticker: MCHP (NASDAQ)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Falling Trendline Break + Support Reclaim
🔸 Breakout Price: ~$48.47
📊 Trade Plan (Long Position)
✅ Entry Zone: $48.40–$48.50 (bullish breakout + yellow resistance zone retest)
✅ Stop Loss (SL): Below $47.62 (white support zone – structure low)
✅ Take Profit Targets:
📌 TP1: $49.63 (red line – minor resistance/supply zone)
📌 TP2: $50.81 (green line – previous high / major resistance)
📐 Risk-Reward Ratio
📉 Risk per Share:
$48.47 - $47.62 = $0.85
📈 Reward to TP1:
$49.63 - $48.47 = $1.16 → 1.36:1 R/R
📈 Reward to TP2:
$50.81 - $48.47 = $2.34 → 2.75:1 R/R
🔍 Technical Confluence
📌 Falling Trendline (pink): Finally broken with volume picking up
📌 Demand Zone Support: Bounce from ~$47.60, confirming buyers stepped in
📌 Yellow Zone: Acts as breakout retest + confirmation trigger
📌 Volume Observation: Look for volume continuation above yellow zone
⚙️ Execution & Risk Management
🔄 After TP1 Hit:
— Move SL to breakeven
— Book 50% profits
📈 Let the rest ride to TP2
📉 Use a trailing stop method above each support level
⚠️ Invalidation Signals
❌ Close below $47.62
❌ Breakout without follow-through
❌ Sharp rejection from yellow zone = fakeout risk
🦅 Final Thoughts
✔ Textbook reversal pattern
✔ Strong structure + tight risk = smart setup
✔ High potential for upside as market reclaims control
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.