Trade Setup Breakdown for CTLP (30-Min Chart)!:
📊
🔹 Stock: CTLP (NASDAQ)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Rising Wedge Breakout
🚀 Trade Plan:
✅ Entry Zone: $10.50 - $10.55 (Breakout Confirmation)
✅ Stop-Loss (SL): $10.31 (Below Key Support)
🎯 Take Profit Targets:
📌 TP1: $10.76 (First Resistance)
📌 TP2: $11.06 (Extended Target)
📊 Risk-Reward Ratio Calculation:
📉 Risk (Stop-Loss Distance):
$10.52 - $10.31 = $0.21
📈 Reward to TP1:
$10.76 - $10.52 = $0.24
💰 Risk-Reward Ratio to TP1: 1:1.14
📈 Reward to TP2:
$11.06 - $10.52 = $0.54
💰 Risk-Reward Ratio to TP2: 1:2.57
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: Price breaking out of the rising wedge with strong volume.
📌 Pattern Formation: Rising Wedge Breakout, indicating bullish momentum.
📊 Key Support & Resistance Levels:
🟢 $10.31 (Support / SL Level)
🟢 $10.50 - $10.55 (Breakout Zone)
🟢 $10.76 (First Profit Target / Resistance)
🟢 $11.06 (Final Target for Momentum Extension)
🚀 Momentum Shift Expected:
If the price sustains above $10.55, we could see a rally towards $10.76 and beyond.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure strong buying volume above $10.55 before entering.
📈 Trailing Stop Strategy: If the price reaches TP1 ($10.76), move SL to $10.55 to protect profits.
💰 Partial Profit Booking Strategy:
✔ Take 50% at $10.76, let the rest run to $11.06.
✔ Adjust Stop-Loss to Break-even ($10.55) after TP1 is hit.
⚠️ Fake Breakout Risk:
If price fails to hold above $10.50, be cautious and avoid entering early.
🚀 Final Thoughts:
✔ Bullish Setup – If price sustains above $10.55, a strong move is expected.
✔ Momentum Shift Possible – Watch for volume increase to confirm the trend.
✔ Favorable Risk-Reward Ratio – 1:1.14 to TP1, 1:2.57 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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