Trade Alert for JBMA (JBM Auto Ltd.)Trade Setup:
- Action: Go Long (Buy)
- Entry Point: Above 2142.60
- This is the trigger point for initiating a long position, indicating that the price needs to break above this level to confirm the bullish setup.
Key Levels:
- Fibonacci Resistance Level: 2136.75
- This is a critical level derived from Fibonacci retracement or extension tools, suggesting a significant point of resistance. The price needs to surpass this level to confirm bullish momentum.
- Upside Targets:
- First Target: 2265
- Second Target: 2428
- These targets provide potential profit-taking points as the price moves higher.
Risk Management:
- It's essential to have a risk management strategy in place. This includes setting stop-loss levels to minimize potential losses if the trade does not go as anticipated. The exact stop-loss level can vary depending on your risk tolerance, but it should be placed below the entry point (e.g., below the Fibonacci resistance level at 2136.75).
Summary:
1. Go Long above 2142.60: Wait for the price to break and sustain above this level before entering the trade.
2. Monitor Resistance: Pay attention to the price action around the 2136.75 Fibonacci resistance level to ensure a clean breakout.
3. Upside Levels: Target prices at 2265 and 2428 for potential profit-taking.
4. Risk Management: Use stop-loss orders to protect against downside risks.
By following these guidelines, you can structure your trade with a clear plan for entry, targets, and risk management.
