📌 🚀
🔹 Asset: AAP (Advance Auto Parts Inc.)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Breakout Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $34.35 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $33.66 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $35.42 (First Resistance Level)
📌 TP2: $36.60 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $34.35 - $33.66 = $0.69 risk per share
📈 Reward to TP1: $35.42 - $34.35 = $1.07 (1:1.5 R/R)
📈 Reward to TP2: $36.60 - $34.35 = $2.25 (1:3.2 R/R)
🔍 Technical Analysis & Strategy
📌 Falling Wedge Breakout: Price breaking out of a downward wedge, signaling a bullish reversal.
📌 Support Rejection: Strong bounce from $33.66 support, indicating buying pressure.
📌 Volume Confirmation Needed: Ensure high buying volume when price holds above $34.35 to confirm breakout.
📌 Momentum Shift Expected: If price sustains above $34.35, potential rally toward $35.42, then $36.60.
📊 Key Support & Resistance Levels
🟢 $33.66 – Stop-Loss / Strong Support
🟡 $34.35 – Breakout Level / Long Entry
🔴 $35.42 – First Resistance / TP1
🔴 $36.60 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $34.35 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($34.35) after TP1 ($35.42) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $35.42, let the rest run toward $36.60.
✔ Adjust Stop-Loss to Break-even ($34.35) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $34.35 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above $34.35 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Breakout from falling wedge suggests a potential trend shift.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.5 to TP1, 1:3.2 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
#StockMarket 📉 #AAP 📊 #TradingNews 📰 #MarketUpdate 🔥 #Investing 💰 #Trading 📈 #Finance 💵 #ProfittoPath 🚀 #SwingTrading 🔄 #DayTrading ⚡ #StockTrader 💸 #TechnicalAnalysis 📉 #EconomicNews 🏛️ #FinancialFreedom 💡 #MarketTrends 📊 #StockAlerts 🔔 #TradeSmart 🤓 #Bullish 🐂 #RiskManagement ⚠️ #TradingCommunity 🤝
🔹 Asset: AAP (Advance Auto Parts Inc.)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Breakout Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $34.35 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $33.66 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $35.42 (First Resistance Level)
📌 TP2: $36.60 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $34.35 - $33.66 = $0.69 risk per share
📈 Reward to TP1: $35.42 - $34.35 = $1.07 (1:1.5 R/R)
📈 Reward to TP2: $36.60 - $34.35 = $2.25 (1:3.2 R/R)
🔍 Technical Analysis & Strategy
📌 Falling Wedge Breakout: Price breaking out of a downward wedge, signaling a bullish reversal.
📌 Support Rejection: Strong bounce from $33.66 support, indicating buying pressure.
📌 Volume Confirmation Needed: Ensure high buying volume when price holds above $34.35 to confirm breakout.
📌 Momentum Shift Expected: If price sustains above $34.35, potential rally toward $35.42, then $36.60.
📊 Key Support & Resistance Levels
🟢 $33.66 – Stop-Loss / Strong Support
🟡 $34.35 – Breakout Level / Long Entry
🔴 $35.42 – First Resistance / TP1
🔴 $36.60 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $34.35 before entering.
📉 Trailing Stop Strategy: Move SL to entry ($34.35) after TP1 ($35.42) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $35.42, let the rest run toward $36.60.
✔ Adjust Stop-Loss to Break-even ($34.35) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $34.35 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above $34.35 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Breakout from falling wedge suggests a potential trend shift.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.5 to TP1, 1:3.2 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
#StockMarket 📉 #AAP 📊 #TradingNews 📰 #MarketUpdate 🔥 #Investing 💰 #Trading 📈 #Finance 💵 #ProfittoPath 🚀 #SwingTrading 🔄 #DayTrading ⚡ #StockTrader 💸 #TechnicalAnalysis 📉 #EconomicNews 🏛️ #FinancialFreedom 💡 #MarketTrends 📊 #StockAlerts 🔔 #TradeSmart 🤓 #Bullish 🐂 #RiskManagement ⚠️ #TradingCommunity 🤝
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.