Trade Setup Breakdown for NVST (30-Min Chart)!๐
๐น Stock: NVST (NYSE)
๐น Timeframe: 30-Min Chart
๐น Setup Type: Falling Wedge Breakout
๐ Trade Plan:
โ
Entry Zone: $21.00 - $21.10 (Breakout Confirmation)
โ
Stop-Loss (SL): $20.52 (Below Key Support)
๐ฏ Take Profit Targets:
๐ TP1: $21.54 (First Resistance)
๐ TP2: $22.13 (Extended Target)
๐ Risk-Reward Ratio Calculation:
๐ Risk (Stop-Loss Distance):
$21.04 - $20.52 = $0.52
๐ Reward to TP1:
$21.54 - $21.04 = $0.50
๐ฐ Risk-Reward Ratio to TP1: 1:0.96
๐ Reward to TP2:
$22.13 - $21.04 = $1.09
๐ฐ Risk-Reward Ratio to TP2: 1:2.1
๐ Technical Analysis & Strategy:
๐ Breakout Confirmation: Price breaking the falling wedge pattern with bullish momentum.
๐ Pattern Formation: Falling Wedge Breakout, indicating potential reversal.
๐ Key Support & Resistance Levels:
๐ข $20.52 (Support / SL Level)
๐ข $21.00 - $21.10 (Breakout Zone)
๐ข $21.54 (First Profit Target / Resistance)
๐ข $22.13 (Final Target for Momentum Extension)
๐ Momentum Shift Expected:
If the price sustains above $21.10, we could see a rally towards $21.54 and beyond.
๐ฅ Trade Execution & Risk Management:
๐ Volume Confirmation: Ensure strong buying volume above $21.10 before entering.
๐ Trailing Stop Strategy: If the price reaches TP1 ($21.54), move SL to $21.10 to protect profits.
๐ฐ Partial Profit Booking Strategy:
โ Take 50% at $21.54, let the rest run to $22.13.
โ Adjust Stop-Loss to Break-even ($21.10) after TP1 is hit.
โ ๏ธ Fake Breakout Risk:
If price fails to hold above $21.00, be cautious and avoid entering early.
๐ Final Thoughts:
โ Bullish Setup โ If price sustains above $21.10, a strong move is expected.
โ Momentum Shift Possible โ Watch for volume increase to confirm the trend.
โ Favorable Risk-Reward Ratio โ 1:0.96 to TP1, 1:2.1 to TP2.
๐ก Stick to the plan, manage risk, and trade smart! ๐๐
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