Current Price: $431.97 Risk-Reward Setup: Risk $10 to potentially gain $40.
Entry Point: The price is currently hovering at $431.97. This level seems to be consolidating after a recent upward move, likely providing a decent entry point if the market remains bullish.
Stop Loss: Stop Loss Set at: $422 This is a $10 risk from the current price. Strategically place it below the current support zone (around $422), where a key moving average or recent price low may provide support. If the price breaks below, it signifies a bearish signal and triggers the exit. Target Profit:
Target: $471 With a $40 upside target, this aligns with the next key resistance level. Given the current bullish momentum and based on the volume, reaching this level is feasible if the uptrend continues.
Risk-Reward Ratio: Ratio: 4:1 (For every $1 risked, you're targeting $4 in profit). This is a solid ratio, especially for swing trades or medium-term holds.
NOTE : The setup looks promising for a swing trade with a high probability of success if the market sentiment remains positive. As always, ensure to monitor for any sudden market shifts or macroeconomic events that could affect the overall trend.
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