$MPLX
EP: $0.0610 to $0.0625
TP1: $0.0660
TP2: $0.0695
TP3: $0.0750
SL: $0.0580
The 1H structure is strongly bullish, with a sharp breakout from the $0.0450 to $0.0530 accumulation zone followed by higher highs and higher lows.
Momentum remains positive after the breakout, while the current pullback is testing the former breakout area around $0.0610 to $0.0620. Holding this zone keeps the bullish structure intact.
Liquidity sits above the recent $0.06965 high. A clean break and 1H close above that level would open the path toward $0.0750, while losing $0.0580 would weaken the continuation setup.
Risk should remain controlled because the recent move has been fast and a deeper retracement is possible.
$MPLX
EP: $0.0610 to $0.0625
TP1: $0.0660
TP2: $0.0695
TP3: $0.0750
SL: $0.0580
The 1H structure is strongly bullish, with a sharp breakout from the $0.0450 to $0.0530 accumulation zone followed by higher highs and higher lows.
Momentum remains positive after the breakout, while the current pullback is testing the former breakout area around $0.0610 to $0.0620. Holding this zone keeps the bullish structure intact.
Liquidity sits above the recent $0.06965 high. A clean break and 1H close above that level would open the path toward $0.0750, while losing $0.0580 would weaken the continuation setup.
Risk should remain controlled because the recent move has been fast and a deeper retracement is possible.
$MPLX
