As you know, the Trend Channel moves up with prices to lock in gains so it's not a static stop, if you aren't using the Trend Channel, a 22 bar exponential moving average works fairly close to the trend channel stop for MCP, it's more accurate from 5 to 30 mins, it starts to lag a little at 60 min, but not that much, so that's another option.
3 min chart is losing a little momentum, it's not really what I'd call negative, just profit taking after a +12% run the last 2 days.
The 5 min chart is similar.
At 10 min we are more in line and this would make sense, this is why I view any downside as likely a consolidation, it just depends on how active you are as a trader and what makes sense to you, your schedule, account and position size, etc.
The 15 min chart looks great here, leading positive.
As does the 30 min chart.
The 4 hour chart shows what I think is ultimately the MCP base, a larger "W" base so I think there's good probabilities for higher prices, going by this chart they would be much higher, something around $18 according to the price pattern measuring implications.
I also like the 50-bar 5 min m.a. for an intraday stop if you are looking to trade around momentum and consolidations.
As for the intraday momentum, we seem to be losing it, 5 min RsI is slightly negative, MACD is as well, but the 50-bar 5 min Stochastics is still embedded.
This is more of a personal preference choice, take profit and try to re-enter at lower prices or just hold, for me I'd rather just hold at this stage until the trend is more developed and likely to see a larger correction that may make more sense (to me) to try to trade around.
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