MCP Trade Idea

I can't enter anymore MCP long, I'm at full position size and a profit, not a lot, single digits, but green.

MCP is a long term favorite meaning I think it can make a move to a primary bull trend despite what the market is doing, I want to be extra careful to pay attention with Chinese problems, but thus far I think it's still a great looking basing stock with a huge base capable of a long stage 2 primary bull run.

I'm not going to get in to all the longer term stuff as I have covered it hundreds of times, just run a search at the top left corner of the site and sort it by date.

As far as recent activity, it looks like it may be ready to make at least a swing move and form there who knows where it leads, but I've been trying to maintain long exposure there no matter what recently.

 MCP daily triangle, there's a decent chance for a head fake/stop run, if that happened it would be even more attractive as a long, it's hard to say though whether it will or not.

The 60 min chart gives you some long term idea of the trend

 But recently we have a leading 15 min

A leading 5 min at the triangle seen on the daily chart

And now a leading 2 min, this looks awfully close to launching so I'll maintain my long here.

If I didn't have exposure and liked the idea, I'd probably enter a half position size and enter the other half if there's a head fake break below the triangle or if there's a break above, as long as you have price alerts and can get in early, I wouldn't be opposed to adding the second half there since we are at a narrow apex of the tri., but that would have to happen quickly, not wait until it's gone.