Tourmaline Bio, Inc. (TRML) – 30-Min Long Trade Setup !📌 🚀
🔹 Asset: Tourmaline Bio, Inc. (TRML – NASDAQ)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Symmetrical Triangle Breakout
📊 Trade Plan (Long Position)
✅ Entry Zone: Above $18.27 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $17.95 (Key Support Level)
🎯 Take Profit Targets:
📌 TP1: $18.91 (First Resistance Level)
📌 TP2: $19.62 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$18.27 - $17.95 = $0.32 risk per share
📈 Reward to TP1:
$18.91 - $18.27 = $0.64 (1:2 R/R)
📈 Reward to TP2:
$19.62 - $18.27 = $1.35 (1:4.22 R/R)
✅ Higher R/R than ON Stock!
🔍 Technical Analysis & Strategy
📌 Symmetrical Triangle Breakout: Price is attempting to break above trendline resistance, signaling bullish momentum.
📌 Key Resistance at $18.91: Needs to clear this level for further upside toward TP2.
📌 Volume Confirmation Needed: Ensure above-average volume above $18.27 to validate breakout.
📌 Support at $17.95: A break below this invalidates the trade setup.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Look for strong bullish volume above $18.27 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($18.27) after TP1 is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at TP1 ($18.91), let the rest run toward $19.62 (TP2).
✔ Adjust Stop-Loss to Break-even ($18.27) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $18.27, exit early.
❌ Wait for a 30-min candle close above the breakout level before entering.
🚀 Final Thoughts
✔ Bullish Setup – Strong breakout potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Best Risk-Reward Ratio (1:4.22 to TP2)!
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
🔗 #TRML #NASDAQ #SwingTrading #TradingView #ProfittoPath 💰📊
