BTCUSD M15 chart we've provided, here's a breakdown for potential Take Profits (TPs) and Stop Loss (SL) placements based on the bullish setup and the indicated target zone:
🔍 Chart Observations:
Timeframe: M15 (15-minute)
Pattern: "Bullish Wedge" marked — a bullish continuation pattern
Current price: Around 104,010
Target zone: 106,800 – 107,200
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🎯 Suggested Take Profit Levels (TPs):
These are based on psychological levels, resistance zones, and the projected target:
TP1: 104,800 – Initial breakout level
TP2: 105,600 – Minor resistance zone before the target
TP3: 106,800 – Lower bound of the target area
TP4 (Final Target): 107,200 – Upper bound of the projected target area
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🛡️ Suggested Stop Loss (SL):
To manage risk, place stop loss just below the wedge or previous support:
SL Option 1 (Tight): 103,200 — Just under recent structure
SL Option 2 (Safe): 103,000 — Below the bullish wedge formation
⚖️ Risk-Reward Example:
If entering around 104,100:
Risk to 103,600: ~600 points
Reward to 106,800: ~2,600 points
Risk/Reward ≈ 1:4.3 (excellent)
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🔍 Chart Observations:
Timeframe: M15 (15-minute)
Pattern: "Bullish Wedge" marked — a bullish continuation pattern
Current price: Around 104,010
Target zone: 106,800 – 107,200
---
🎯 Suggested Take Profit Levels (TPs):
These are based on psychological levels, resistance zones, and the projected target:
TP1: 104,800 – Initial breakout level
TP2: 105,600 – Minor resistance zone before the target
TP3: 106,800 – Lower bound of the target area
TP4 (Final Target): 107,200 – Upper bound of the projected target area
---
🛡️ Suggested Stop Loss (SL):
To manage risk, place stop loss just below the wedge or previous support:
SL Option 1 (Tight): 103,200 — Just under recent structure
SL Option 2 (Safe): 103,000 — Below the bullish wedge formation
⚖️ Risk-Reward Example:
If entering around 104,100:
Risk to 103,600: ~600 points
Reward to 106,800: ~2,600 points
Risk/Reward ≈ 1:4.3 (excellent)
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Trade active
Running 120 pips Trade closed manually
Near the target. Close trades with 200+ pips 
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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.
Disclaimer
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.