📊🚀
🔹 Asset: CHWY/USD
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Symmetrical Triangle Breakout
🚀 Trade Plan (Long Position):
✅ Entry Zone: Above 38.08 USD (Breakout Confirmation)
✅ Stop-Loss (SL): Below 37.30 USD (Breakout Invalidated)
🎯 Take Profit Targets:
📌 TP1: 38.93 USD (First Resistance Level)
📌 TP2: 39.92 USD (Extended Bullish Target)
📊 Risk-Reward Ratio Calculation:
📈 Risk (SL Distance): Below 37.30 USD
📈 Reward to TP1: 38.93 USD
📈 Reward to TP2: 39.92 USD
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: A strong push above 38.08 USD signals bullish momentum.
📌 Pattern Formation: Symmetrical Triangle Breakout, indicating potential upside continuation.
📊 Key Support & Resistance Levels:
🟢 37.30 USD – Strong Support / Stop-Loss Level
🟡 38.08 USD – Breakout Zone / Entry Level
🔴 38.93 USD – First Profit Target / Resistance
🟢 39.92 USD – Final Target for Momentum Extension
🚀 Momentum Shift Expected:
📌 If price stays above 38.08 USD, it could rally towards 38.93 USD and 39.92 USD.
📌 A high-volume breakout would strengthen the trend continuation.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure strong buying volume above 38.08 USD before entering.
📈 Trailing Stop Strategy: Move SL to entry (38.08 USD) after TP1 (38.93 USD) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at 38.93 USD, let the rest run to 39.92 USD.
✔ Adjust Stop-Loss to Break-even (38.08 USD) after TP1 is reached.
⚠️ Fake Breakout Risk:
If price falls below 38.08 USD, wait for a retest before considering re-entry.
🚀 Final Thoughts:
✔ Bullish Setup – Holding above 38.08 USD could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.13 to TP1, 1:2.46 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
🔗 #StockTrading #CHWYUSD #BreakoutTrade #TechnicalAnalysis #MarketTrends #ProfittoPath
🔹 Asset: CHWY/USD
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Symmetrical Triangle Breakout
🚀 Trade Plan (Long Position):
✅ Entry Zone: Above 38.08 USD (Breakout Confirmation)
✅ Stop-Loss (SL): Below 37.30 USD (Breakout Invalidated)
🎯 Take Profit Targets:
📌 TP1: 38.93 USD (First Resistance Level)
📌 TP2: 39.92 USD (Extended Bullish Target)
📊 Risk-Reward Ratio Calculation:
📈 Risk (SL Distance): Below 37.30 USD
📈 Reward to TP1: 38.93 USD
📈 Reward to TP2: 39.92 USD
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: A strong push above 38.08 USD signals bullish momentum.
📌 Pattern Formation: Symmetrical Triangle Breakout, indicating potential upside continuation.
📊 Key Support & Resistance Levels:
🟢 37.30 USD – Strong Support / Stop-Loss Level
🟡 38.08 USD – Breakout Zone / Entry Level
🔴 38.93 USD – First Profit Target / Resistance
🟢 39.92 USD – Final Target for Momentum Extension
🚀 Momentum Shift Expected:
📌 If price stays above 38.08 USD, it could rally towards 38.93 USD and 39.92 USD.
📌 A high-volume breakout would strengthen the trend continuation.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure strong buying volume above 38.08 USD before entering.
📈 Trailing Stop Strategy: Move SL to entry (38.08 USD) after TP1 (38.93 USD) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at 38.93 USD, let the rest run to 39.92 USD.
✔ Adjust Stop-Loss to Break-even (38.08 USD) after TP1 is reached.
⚠️ Fake Breakout Risk:
If price falls below 38.08 USD, wait for a retest before considering re-entry.
🚀 Final Thoughts:
✔ Bullish Setup – Holding above 38.08 USD could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.13 to TP1, 1:2.46 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
🔗 #StockTrading #CHWYUSD #BreakoutTrade #TechnicalAnalysis #MarketTrends #ProfittoPath
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.
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.