📊– 30-Min Chart
📉 Setup Type: Rising Wedge Breakdown (Bearish Reversal)
🔻 Trade Plan (Short Position)
✅ Entry Zone: Below $8.78 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $9.52 (Key Resistance Level)
🎯 Take Profit Targets (TPs)
📌 TP1: $7.81 (Support Level)
📌 TP2: $6.60 (Key Demand Zone)
📌 TP3: $6.00 (Major Support & Psychological Level)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$9.52 - $8.78 = $0.74 risk per trade
📈 Reward to TP1:
$8.78 - $7.81 = $0.97 (1:1.3 R/R)
📈 Reward to TP2:
$8.78 - $6.60 = $2.18 (1:2.95 R/R)
📈 Reward to TP3:
$8.78 - $6.00 = $2.78 (1:3.76 R/R)
✅ Favorable Risk-Reward Ratio with strong downside potential!
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakdown: Price is breaking below a bearish wedge pattern, signaling weakness.
📌 Key Resistance Holding: $9.52 acts as a strong rejection zone, reinforcing downside potential.
📌 Volume Confirmation: Increasing sell volume confirms bearish sentiment.
📌 Momentum Shift: Loss of upward trend momentum suggests possible trend reversal.
📉 Trade Execution & Risk Management
✔ Wait for Confirmation: A 30-min candle close below $8.78 strengthens the breakdown.
✔ Adjust Stop-Loss: Move SL to break-even ($8.78) after hitting TP1 ($7.81).
✔ Partial Profit Booking Strategy:
✔ Take 50% profits at TP1 ($7.81) and let the rest run toward TP2 & TP3.
✔ Adjust Stop-Loss to Break-even ($8.78) after TP1 is reached.
⚠️ Risks & Considerations ❌ Fake Breakdown Risk: If price reclaims $8.78, the short setup could be invalidated.
❌ Market Conditions: Low-volume breakdowns may lead to a bounce.
🚀 Final Thoughts ✔ Bearish Setup – Strong downside potential.
✔ Rising Wedge Breakdown – High confluence setup.
✔ Favorable Risk-Reward Ratio – 1:3.76 toward TP3.
💡 Stick to the plan, manage risk, and trade smart! 🚀📉
🔗 #OPRX #ShortTrade #BearishBreakdown #TradingView #ProfittoPath 💰📊
📉 Setup Type: Rising Wedge Breakdown (Bearish Reversal)
🔻 Trade Plan (Short Position)
✅ Entry Zone: Below $8.78 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $9.52 (Key Resistance Level)
🎯 Take Profit Targets (TPs)
📌 TP1: $7.81 (Support Level)
📌 TP2: $6.60 (Key Demand Zone)
📌 TP3: $6.00 (Major Support & Psychological Level)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$9.52 - $8.78 = $0.74 risk per trade
📈 Reward to TP1:
$8.78 - $7.81 = $0.97 (1:1.3 R/R)
📈 Reward to TP2:
$8.78 - $6.60 = $2.18 (1:2.95 R/R)
📈 Reward to TP3:
$8.78 - $6.00 = $2.78 (1:3.76 R/R)
✅ Favorable Risk-Reward Ratio with strong downside potential!
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakdown: Price is breaking below a bearish wedge pattern, signaling weakness.
📌 Key Resistance Holding: $9.52 acts as a strong rejection zone, reinforcing downside potential.
📌 Volume Confirmation: Increasing sell volume confirms bearish sentiment.
📌 Momentum Shift: Loss of upward trend momentum suggests possible trend reversal.
📉 Trade Execution & Risk Management
✔ Wait for Confirmation: A 30-min candle close below $8.78 strengthens the breakdown.
✔ Adjust Stop-Loss: Move SL to break-even ($8.78) after hitting TP1 ($7.81).
✔ Partial Profit Booking Strategy:
✔ Take 50% profits at TP1 ($7.81) and let the rest run toward TP2 & TP3.
✔ Adjust Stop-Loss to Break-even ($8.78) after TP1 is reached.
⚠️ Risks & Considerations ❌ Fake Breakdown Risk: If price reclaims $8.78, the short setup could be invalidated.
❌ Market Conditions: Low-volume breakdowns may lead to a bounce.
🚀 Final Thoughts ✔ Bearish Setup – Strong downside potential.
✔ Rising Wedge Breakdown – High confluence setup.
✔ Favorable Risk-Reward Ratio – 1:3.76 toward TP3.
💡 Stick to the plan, manage risk, and trade smart! 🚀📉
🔗 #OPRX #ShortTrade #BearishBreakdown #TradingView #ProfittoPath 💰📊
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.
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.