ADVM (Adverum Biotechnologies) – 30-Min Long Trade Setup! 🚀
🔹 Asset: ADVM – NASDAQ
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Breakout (Rising Wedge & Fibonacci Confluence)
📊 Trade Plan (Long Position)
✅ Entry Zone: Above $5.38 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $5.09 (Key Support Level)
🎯 Take Profit Targets
📌 TP1: $5.85 (Resistance Level)
📌 TP2: $6.38 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$5.38 - $5.09 = $0.29 risk per share
📈 Reward to TP1:
$5.85 - $5.38 = $0.47 (1:1.62 R/R)
📈 Reward to TP2:
$6.38 - $5.38 = $1.00 (1:3.44 R/R)
✅ Favorable Risk-Reward Ratio toward TP2
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakout: Price action is holding above key levels, signaling bullish momentum.
📌 Fibonacci Confluence: The 0.382, 0.5, and 0.618 retracement levels provide strong support.
📌 Volume Confirmation Needed: Look for above-average buying volume above $5.38 to validate the breakout.
📌 Resistance at $5.85: A breakout above this will strengthen the bullish move toward TP2.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $5.38 before entering.
📉 Trailing Stop Strategy: Move SL to break-even ($5.38) after hitting TP1 ($5.85).
💰 Partial Profit Booking Strategy
✔ Take 50% profits at TP1 ($5.85), let the rest run toward TP2 ($6.38).
✔ Adjust Stop-Loss to Break-even ($5.38) after TP1 is reached.
⚠️ Risks & Considerations
❌ Fake Breakout Risk: If the price fails to hold above $5.38, exit early.
❌ Confirmation Required: Wait for a 30-min candle close above $5.38 before entering.
🚀 Final Thoughts
✔ Bullish Setup – Strong upside potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:3.44 toward TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
🔗 #ADVM #NASDAQ #LongTrade #TradingView #ProfittoPath 💰📊
