PSX/USD – 30-Min Long Trade Setup !📌 🚀
🔹 Asset: PSX (Pakistan Stock Exchange Ltd.)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Reversal Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $24.50 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $24.00 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $25.30 (First Resistance Level)
📌 TP2: $26.01 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $24.50 - $24.00 = $0.50 risk per share
📈 Reward to TP1: $25.30 - $24.50 = $0.80 (1:1.6 R/R)
📈 Reward to TP2: $26.01 - $24.50 = $1.51 (1:3 R/R)
🔍 Technical Analysis & Strategy
📌 Falling Wedge Breakout: Price has broken out of a falling wedge, a strong bullish reversal pattern.
📌 Support Rejection: The price tested $24.50 support and showed buying pressure.
📌 Volume Confirmation Needed: Ensure high buying volume when price holds above $24.50 to confirm bullish momentum.
📌 Momentum Shift Expected: If price remains above $24.50, it could push toward $25.30, and further to $26.01.
📊 Key Support & Resistance Levels
🟢 $24.00 – Stop-Loss / Support Level
🟡 $24.50 – Breakout Level / Long Entry
🔴 $25.30 – First Resistance / TP1
🔴 $26.01 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure high buying volume above $24.50 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($24.50) after TP1 ($25.30) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $25.30, let the rest run toward $26.01.
✔ Adjust Stop-Loss to Break-even ($24.50) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If the price fails to hold above $24.50 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above $24.50 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Bouncing from support at $24.50 suggests a potential reversal.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.6 to TP1, 1:3 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
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