Trade Setup Breakdown for ET (30-Min Chart)!📊
🔹 Stock: ET (NYSE)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Falling Wedge Breakout
🚀 Trade Plan:
✅ Entry Zone: $19.80 - $19.90 (Breakout Confirmation)
✅ Stop-Loss (SL): $19.55 (Below Key Support)
🎯 Take Profit Targets:
📌 TP1: $20.10 (First Resistance)
📌 TP2: $20.53 (Extended Target)
📊 Risk-Reward Ratio Calculation:
📉 Risk (Stop-Loss Distance):
$19.83 - $19.55 = $0.28
📈 Reward to TP1:
$20.10 - $19.83 = $0.27
💰 Risk-Reward Ratio to TP1: 1:0.96
📈 Reward to TP2:
$20.53 - $19.83 = $0.70
💰 Risk-Reward Ratio to TP2: 1:2.5
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: Price attempting to break above trendline with strong support at $19.55.
📌 Pattern Formation: Falling Wedge Breakout, signaling potential bullish reversal.
📊 Key Support & Resistance Levels:
🟢 $19.55 (Support / SL Level)
🟢 $19.80 - $19.90 (Breakout Zone)
🟢 $20.10 (First Profit Target / Resistance)
🟢 $20.53 (Final Target for Momentum Extension)
🚀 Momentum Shift Expected:
If the price holds above $19.90, we could see a rally towards $20.10 and $20.53.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure strong buying volume above $19.90 before entering.
📈 Trailing Stop Strategy: If the price reaches TP1 ($20.10), move SL to $19.90 to protect profits.
💰 Partial Profit Booking Strategy:
✔ Take 50% at $20.10, let the rest run to $20.53.
✔ Adjust Stop-Loss to Break-even ($19.90) after TP1 is hit.
⚠️ Fake Breakout Risk:
If price fails to hold above $19.80, be cautious and avoid entering early.
🚀 Final Thoughts:
✔ Bullish Setup – If price sustains above $19.90, a strong move is expected.
✔ Momentum Shift Possible – Watch for volume increase to confirm the trend.
✔ Favorable Risk-Reward Ratio – 1:0.96 to TP1, 1:2.5 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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