CHWY/USD – 30-Min Short Trade Setup!📉 🚀
🔹 Asset: CHWY (Chewy, Inc.)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown
📌 Trade Plan (Short Position)
✅ Entry: Below $36.10 (Breakdown Confirmation)
✅ Stop-Loss: Above $37.45 (Break of Resistance)
🎯 Targets:
📌 TP1: $34.76 (First Support Level)
📌 TP2: $33.39 (Extended Bearish Move)
📊 Risk-Reward Ratio
📉 Risk: $37.45 - $36.10 = $1.35 per share
📉 Reward:
✔ TP1: $36.10 - $34.76 = $1.34 (1:1 R/R)
✔ TP2: $36.10 - $33.39 = $2.71 (1:2 R/R)
🔍 Technical Analysis
📌 Rising Wedge Breakdown – Bearish structure forming.
📌 Bearish Momentum – Price rejecting trendline & failing to hold support.
📌 Breakdown Confirmation – Strong volume below $36.10 signals further downside.
📉 Risk Management
📊 Confirm Volume – Strong selling pressure below $36.10 before entering.
📈 Trailing Stop – Move SL to entry after TP1 ($34.76).
💰 Partial Profits – Take 50% at $34.76, let the rest run to $33.39.
🚀 Trade smart, follow the plan & manage risk! 🔥
