MASTERCARD INCORPORATED

18 Agu 2020

MA

Hey, traders.
I have a good candidate for long today.

What's on the chart:
1. The level formed by the gap.
2. The level is confirmed several times in August: touches, false breakout after which we don't roll back down.
3. The level is strong. We tried to take it on the 19th. Closed above level, but we couldn't get a hold of it. That tells us we have a strong short player.
4. In the last trading session, we broke through the level again and closed above it.

If today's daily bar opens above the level and closes above it as well, I will consider it a fixation and will look for an entry point in my trading strategy.
In any case, in order not to get an extra SLs, I will wait for a fixation above the level.