SG – 1H Short Trade Setup!📌
🔹 Asset: Sweetgreen, Inc. (SG)
🔹 Timeframe: 1-Hour Chart
🔹 Setup Type: Descending Trendline & Bearish Breakdown Short Trade
📌 Trade Plan (Short Position)
✅ Entry Zone: Below $21.83 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $23.13 (Break of Resistance & Trendline)
🎯 Take Profit Targets
📌 TP1: $20.58 (First Support Level)
📌 TP2: $19.25 (Final Target – Extended Bearish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $23.13 - $21.83 = $1.30 risk per share
📉 Reward to TP1: $21.83 - $20.58 = $1.25 (0.96 R/R)
📉 Reward to TP2: $21.83 - $19.25 = $2.58 (1.98 R/R)
🔍 Technical Analysis & Strategy
📌 Descending Channel Breakdown Setup: SG has been forming lower highs and lower lows, indicating a continued downtrend.
📌 Support & Resistance Flip: The price is testing $21.83, and a clean break below this level would confirm the bearish move.
📌 Breakdown Confirmation: A strong bearish candle closing below $21.83 with high volume would validate the short trade.
📌 Momentum Shift Expected: If price stays below $21.83, it could drop toward $20.58 (TP1) and $19.25 (TP2).
📊 Key Support & Resistance Levels
🔴 $23.13 – Strong Resistance / Stop-Loss Level
🟡 $21.83 – Entry / Breakdown Level
🟢 $20.58 – First Support / TP1
🟢 $19.25 – Final Target / TP2
🚀 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong selling volume below $21.83 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($21.83) after TP1 ($20.58) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $20.58, let the rest run to $19.25.
✔ Adjust Stop-Loss to Break-even ($21.83) after TP1 is reached.
⚠️ Fake Breakdown Risk
❌ If price closes back above $21.83, it could indicate a fake breakdown—exit early.
❌ Wait for a strong candle close below $21.83 for confirmation before entering aggressively.
🚀 Final Thoughts
✔ Bearish Setup – Breaking below $21.83 could lead to lower targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:0.96 to TP1, 1:1.98 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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