the MCD short is only down about 2 1/2% from entry and still looks fine. in the last post, i had suggested a possible stop level on a move above the recent reaction high of 93.32 (stop 1). although that’s still a decent stop level for those preferring relatively tight stops, i have also added a 2nd objective stop level (stop 2) which would be just above the 94.90 level. this stop would still offer a good R/R profile for traders targeting one of the lower price targets (T3 or T4) which are shown on the previous 2-day chart. remember, a quick way to reference the previous posts on any trade is to click on the blue ticker symbol at the bottom of each post. (e.g. “MCD” at the bottom of this post). here’s an updated daily chart showing those stop levels. as those stop levels are resistance levels, i prefer to place my stops slightly above those levels, to allow some room to help avoid stop raids or brief spikes above those levels.
MCD short update