Long Trade Setup Breakdown for Magnite, Inc. (MGNI) - 30-Min!📊
🔹 Asset: Magnite, Inc. (MGNI)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Symmetrical Triangle Breakout
🚀 Trade Plan (Long Position):
✅ Entry Zone: $20.52 (Breakout Confirmation)
✅ Stop-Loss (SL): $19.72 (Below Support)
🎯 Take Profit Targets (Long Trade):
📌 TP1: $21.27 (First Resistance)
📌 TP2: $22.36 (Extended Bullish Target)
📊 Risk-Reward Ratio Calculation:
📈 Risk (Stop-Loss Distance):
$20.52 - $19.72 = $0.80
📈 Reward to TP1:
$21.27 - $20.52 = $0.75
💰 Risk-Reward Ratio to TP1: 1:0.9
📈 Reward to TP2:
$22.36 - $20.52 = $1.84
💰 Risk-Reward Ratio to TP2: 1:2.3
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: Strong buying momentum above $20.52 signals continuation.
📌 Pattern Formation: Symmetrical Triangle Breakout, indicating bullish movement.
📊 Key Support & Resistance Levels:
🟢 $19.72 (Strong Support / SL Level)
🟡 $20.52 (Breakout Zone / Entry)
🔴 $21.27 (First Profit Target / Resistance)
🟢 $22.36 (Final Target for Momentum Extension)
🚀 Momentum Shift Expected:
If price sustains above $20.52, it could push towards $21.27 and $22.36.
Higher volume breakout would confirm strength in the trend.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure buying volume remains strong after breakout.
📈 Trailing Stop Strategy: If price reaches TP1 ($21.27), move SL to entry ($20.52) to lock in profits.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $21.27, let the rest run to $22.36.
✔ Adjust Stop-Loss to Break-even ($20.52) after TP1 is hit.
⚠️ Fake Breakout Risk:
If price drops below $20.52 after breakout, be cautious and watch for a retest before re-entering.
🚀 Final Thoughts:
✔ Bullish Setup – If price holds above $20.52, higher targets are expected.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:0.9 to TP1, 1:2.3 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
🔗 #StockTrading #MGNI #BreakoutTrade #TechnicalAnalysis #MarketTrends #DayTrading #ProfittoPath
