MCHP – 30-Min Long Trade Setup!📈
🔹 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
