SHIBHA INU 1WSwing Trading Setup:
Entry Point:
Enter the trade at the breakout of the descending trendline. A clear break and close above this line confirm the bullish momentum. In this chart, the entry would have been around the 0.00001900 level.
Set the target around significant resistance levels or previous highs. According to the chart, the first target could be around 0.00004500. For a more extended target, aim for the next resistance zone near 0.00008850.
Risk-Reward Ratio:
Ensure the risk-reward ratio is favourable (preferably 1:2 or higher). In this setup, the risk to reward appears favourable as it offers substantial upside potential against the defined risk.
Confirmation:
Wait for a strong bullish candle close above the trendline with good volume to confirm the breakout before entering.
Exit Strategy:
Use trailing stops as the price moves in your favour to lock in profits.
Partial profit booking at key resistance levels can help secure gains while letting the rest of the trade run.
This setup capitalizes on the trendline breakout and potential price rally towards significant historical resistance zones. Always ensure proper risk management when executing trades.
