Updated

$MCD

Idea

- Decent supports at 216 & 218
- Bounced off 200 D on 15Min
- 3x Bounce off trendline in late september
- MACD crossing on the 15Min & also on its way to crossing on 30Min

Entry points: 216-220
If 216 is reached would need to see QUICK & STRONG bounce
218 is probably optimal entry if 216 bounce does not occur, but would still need to see solid bounce off that level or 200D Moving Average

PTs: 222, 223.7, 226.7 (ATH)
Levels: I see resistance at 221 but doesn't seem as strong as the 222 levels. If 222 is crossed, look for 223.7. If momentum is kept we have another resistance which seems lighter at 225 before trying to extend and/or break ATH levels at 226.7

Like I said, 218 is optimal because you will at least get to see what kind of momentum is building. I built a "wedge", so these can easily go either way.
So here is the plan if you see momentum dropping and the stock begin selling off:

- Moving Averages will begin to cross underneath the 200D
- 15Min MACD will head back towards red side to negative
- 218 will be broken, followed by a closer look at 216 levels
- IF 216 were to break, you'll be playing with bottom trend line.
- Beyond that is 214, and another trend line that I have placed in a longer time frame. (211-211.5)

PTs on short would be 214, 211, 209.5 or lower.

Trade at your own risk, I didn't hit your buy/sell button.

Trade active

- 222 Target reached
- Market did not help BO potential, could not get over 223 to close in on 223.7 level
- Take profits now or scalp over the weekend if you've got the balls.
- Re enter between 218/222 based on the way the market is moving.

ChekDaMethod

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ChekDaMethod