RUBICON | Hourly Close Above 688 Could Fuel RUBICON Rally to 770Key Levels
Current Price: 675.65
Immediate Resistance: 688 (hourly close confirmation needed)
Upside Target: 770
Logic Behind the Trade
- 688 as Trigger: This level likely represents a supply zone or recent swing high. A candle close above it signals strength and potential continuation.
- 770 as Target: That’s a ~12% move from breakout, which suggests it’s either a prior resistance zone or a measured move projection.
Risk Management:
- Stop-loss could be placed just below 670–672 (recent support).
- Risk-to-reward ratio looks favorable if aiming for 770.
Probability Factors
- Volume: Breakouts with strong volume have higher reliability.
- Market Context: If broader indices are bullish, breakout chances improve.
- False Breakout Risk: Watch for wicks above 688 without a strong close.
