Entry price: above $49.23
Stop price: under $47.50 (48.40)
Target area: open
Chart explanation:
It is great example how day trade setup can turn in to swing or maybe position trade. MHS forming 30 min 3rd try triangle and that is good day trade setup what can be trigger for daily/weekly and monthly triangle. Day trade stop is under $48.40 and we can use it for longer trade, but also if 30 min triangle wont hold I will still follow MHS for setup based on the daily chart with stop under 47.50.
If anyone will have any question about MHS setup or about any other please feel free to contact me.