📈
🔹 Ticker: MCHP (NASDAQ)
🔹 Setup: Falling Wedge Breakout + Oversold Bounce
🔸 Breakout Zone: ~$40.74 (yellow zone breakout)
📊 Trade Plan (Long Position)
✅ Entry Zone: $40.60–$40.80
✅ Stop Loss (SL): Below $39.08 (white key level)
✅ Take Profit Targets:
📌 TP1: $43.27 (red zone – resistance shelf)
📌 TP2: $46.10 (green zone – gap-fill target)
📐 Risk-Reward Breakdown
📉 Risk:
$40.74 - $39.08 = $1.66
📈 Reward to TP1:
$43.27 - $40.74 = $2.53 → 1.52:1 R/R
📈 Reward to TP2:
$46.10 - $40.74 = $5.36 → 3.22:1 R/R
🔍 Technical Highlights
Oversold bounce with bullish reversal candle
Falling wedge breakout forming
Yellow zone reclaim signals strength
Heavy sell-off likely overextended = high bounce potential
⚙️ Trade Management
🔄 After TP1:
– Move SL to breakeven
– Book partial gains
📈 Let rest run to TP2 with trailing stop under rising support
⚠️ Invalidation Triggers
❌ Break and close below $39.08
❌ Rejection with heavy volume at yellow zone
❌ Bearish engulfing back into wedge range
🔹 Ticker: MCHP (NASDAQ)
🔹 Setup: Falling Wedge Breakout + Oversold Bounce
🔸 Breakout Zone: ~$40.74 (yellow zone breakout)
📊 Trade Plan (Long Position)
✅ Entry Zone: $40.60–$40.80
✅ Stop Loss (SL): Below $39.08 (white key level)
✅ Take Profit Targets:
📌 TP1: $43.27 (red zone – resistance shelf)
📌 TP2: $46.10 (green zone – gap-fill target)
📐 Risk-Reward Breakdown
📉 Risk:
$40.74 - $39.08 = $1.66
📈 Reward to TP1:
$43.27 - $40.74 = $2.53 → 1.52:1 R/R
📈 Reward to TP2:
$46.10 - $40.74 = $5.36 → 3.22:1 R/R
🔍 Technical Highlights
Oversold bounce with bullish reversal candle
Falling wedge breakout forming
Yellow zone reclaim signals strength
Heavy sell-off likely overextended = high bounce potential
⚙️ Trade Management
🔄 After TP1:
– Move SL to breakeven
– Book partial gains
📈 Let rest run to TP2 with trailing stop under rising support
⚠️ Invalidation Triggers
❌ Break and close below $39.08
❌ Rejection with heavy volume at yellow zone
❌ Bearish engulfing back into wedge range
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.