HRTX/USD – 30-Min Long Trade Setup!📌 🚀
🔹 Asset: HRTX (Heron Therapeutics, Inc.)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Breakout Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $2.46 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $2.29 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $2.70 (First Resistance Level)
📌 TP2: $2.99 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $2.46 - $2.29 = $0.17 risk per share
📈 Reward to TP1: $2.70 - $2.46 = $0.24 (1:1.4 R/R)
📈 Reward to TP2: $2.99 - $2.46 = $0.53 (1:3.1 R/R)
🔍 Technical Analysis & Strategy
📌 Ascending Triangle Breakout: Price has broken above a resistance level at $2.46, signaling bullish momentum.
📌 Uptrend Confirmation: The stock is forming higher highs and higher lows, confirming an uptrend.
📌 Volume Confirmation Needed: Ensure high buying volume when price holds above $2.46 to confirm strength.
📌 Momentum Shift Expected: If the price remains above $2.46, a move toward $2.70 and then $2.99 is probable.
📊 Key Support & Resistance Levels
🟢 $2.29 – Stop-Loss / Support Level
🟡 $2.46 – Breakout Level / Long Entry
🔴 $2.70 – First Resistance / TP1
🔴 $2.99 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure high buying volume above $2.46 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($2.46) after TP1 ($2.70) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $2.70, let the rest run toward $2.99.
✔ Adjust Stop-Loss to Break-even ($2.46) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If the price fails to hold above $2.46 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above $2.46 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Breaking above $2.46 could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.4 to TP1, 1:3.1 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
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