MCHP Bullish Setup – 1:25 R:R with 3 Consecutive Doji Candles

17 янв.

MCHP has arrived at a key historical support level, and we’ve now seen 3 consecutive doji candles, indicating indecision but a potential bullish reversal. The stock remains in a long-term uptrend, with the all-time high (ATH) not far off.

Increased volume suggests renewed buying pressure, offering an excellent 1:25 risk-to-reward ratio if support holds. After my stop was triggered this month, I’ve bought back in, confident in the strength of this setup.

https://www.tradingview.com/x/SbhRPt5K/

This analysis is supported by the invite-only Trend Recognition Indicator by PattRec.

24 янв.

Сделка закрыта: достигнута стоп-лосс цена

Once again on MCHP the stop loss was triggered. Will follow next weeks how the price will be moving.