๐ Risk-Reward Ratio Calculation ๐ Risk (SL Distance): $36.34 - $33.58 = $2.76 risk per share ๐ Reward to TP1: $40.53 - $36.34 = $4.19 (1:1.5 R/R) ๐ Reward to TP2: $45.53 - $36.34 = $9.19 (1:3.3 R/R)
๐ Technical Analysis & Strategy ๐ Falling Wedge Breakout: Price has broken out of a falling wedge, a strong bullish reversal pattern. ๐ Support Rejection: The price tested $36.34 support and showed buying pressure. ๐ Volume Confirmation Needed: Ensure high buying volume when price holds above $36.34 to confirm bullish momentum. ๐ Momentum Shift Expected: If price remains above $36.34, it could push toward $40.53, and further to $45.53.
๐ Key Support & Resistance Levels ๐ข $33.58 โ Stop-Loss / Support Level ๐ก $36.34 โ Breakout Level / Long Entry ๐ด $40.53 โ First Resistance / TP1 ๐ด $45.53 โ Final Target / TP2
๐ Trade Execution & Risk Management ๐ Volume Confirmation: Ensure high buying volume above $36.34 before entering. ๐ Trailing Stop Strategy: Move SL to entry ($36.34) after TP1 ($40.53) is hit.
๐ฐ Partial Profit Booking Strategy: โ Take 50% profits at $40.53, let the rest run toward $45.53. โ Adjust Stop-Loss to Break-even ($36.34) after TP1 is reached.
โ ๏ธ Fake Breakout Risk โ If the price fails to hold above $36.34 and drops back, exit early to avoid losses. โ Wait for a strong bullish candle close above $36.34 before entering aggressively.
๐ Final Thoughts โ Bullish Setup โ Bouncing from support at $36.34 suggests a potential reversal. โ Momentum Shift Possible โ Watch for volume confirmation. โ Favorable Risk-Reward Ratio โ 1:1.5 to TP1, 1:3.3 to TP2. ๐ก Stick to the plan, manage risk, and trade smart! ๐๐
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.