๐ Risk-Reward Ratio Calculation ๐ Risk (SL Distance): $36.07 - $33.81 = $2.26 risk per share ๐ Reward to TP1: $39.62 - $36.07 = $3.55 (1:1.6 R/R) ๐ Reward to TP2: $43.63 - $36.07 = $7.56 (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 $36.07 support and showed buying pressure. ๐ Volume Confirmation Needed: Ensure high buying volume when price holds above $36.07 to confirm bullish momentum. ๐ Momentum Shift Expected: If price remains above $36.07, it could push toward $39.62, and further to $43.63.
๐ Key Support & Resistance Levels ๐ข $33.81 โ Stop-Loss / Support Level ๐ก $36.07 โ Breakout Level / Long Entry ๐ด $39.62 โ First Resistance / TP1 ๐ด $43.63 โ Final Target / TP2
๐ Trade Execution & Risk Management ๐ Volume Confirmation: Ensure high buying volume above $36.07 before entering. ๐ Trailing Stop Strategy: Move SL to entry ($36.07) after TP1 ($39.62) is hit.
๐ฐ Partial Profit Booking Strategy: โ Take 50% profits at $39.62, let the rest run toward $43.63. โ Adjust Stop-Loss to Break-even ($36.07) after TP1 is reached.
โ ๏ธ Fake Breakout Risk โ If the price fails to hold above $36.07 and drops back, exit early to avoid losses. โ Wait for a strong bullish candle close above $36.07 before entering aggressively.
๐ Final Thoughts โ Bullish Setup โ Bouncing from support at $36.07 suggests a potential reversal. โ Momentum Shift Possible โ Watch for volume confirmation. โ Favorable Risk-Reward Ratio โ 1:1.6 to TP1, 1:3.3 to TP2. ๐ก Stick to the plan, manage risk, and trade smart! ๐๐
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