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.