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[/et_pb_code][et_pb_text _builder_version=”4.8.1″ _module_preset=”default”]All righty, folks, today we’re taking a look at mondelez International in MDLZ. We’re coming into a bullish timeframe on around October 21. With an end date on around November 29, we’re looking for about roughly a month long trade or 40 day calendar trades been profitable 88% of time over the last eight years. That’s the kind of data we like to see average profit has been 4%. You see a lot of positive years here, only this one down year, it looks to be 2015. The rest of that has been a nice little trade kind of flat the last couple years. So let’s take a look at the charts. Looking at the weekly and then the daily over here. I noticed that after we broke out of this long term resistance right here at the 59, we’ll call it $60 area, we traded up to about 6566. And now we’ve come back down into this area of structure, which happens to be the 50 and 618 retracement on the weekly chart. So looking over at the daily, as is the typical process here. After identifying the areas of structure on the higher timeframes, we then drill down to the daily once we start coming down into that structure. So we got that you can see momentum clearly slowing slowing down here. And not only that, but we get a bullish divergence signal on the daily chart. Now that alone is not enough to just get us to the long side, we want to see a little bit more confirmation one is being a trend line break, which is what we got a few days ago. See we’re also forming a one to three bond formation, which is another high probability pattern. So we have all of that aligned, we have confidence to enter the trade now you’ll see that we do have a little bit of resistance or overhead here at the $60 area. That is an area where I’d prefer to get above a close above this area before getting long. Of course, aggressive traders could go ahead and consider nibbling long here. I’m gonna be setting price alerts above this 6060 core area once we get past that hurdle, or if we do, I should say, I’m going to be running or looking for targets up here at this area of structure as 63 and then back up to these long term swing highs at 65. And our risk will be down here below the 58 area[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
