🚀 📈🔥
🔍 Stock: FPH (NYSE)
⏳ Timeframe: 30-Min Chart
📈 Setup Type: Bullish Breakout
📍 Trade Plan:
✅ Entry: $6.41 (Breakout Confirmation)
❌ Stop-Loss (SL): $6.08 (Below key support for risk management)
🎯 Target 1: $6.81 (First Resistance Level)
🚀 Target 2: $7.22 (Major Resistance Level – Moon Shot! 🌙)
🔹 Risk-Reward Ratio: Strongly favorable 📊
🔹 Momentum: Uptrend continuation with breakout confirmation 📈
🔹 Pattern: Rising wedge breakout
🔥 Trade Strategy & Refinements:
📊 Volume Confirmation: Ensure strong buying volume supports the breakout.
📉 Trailing Stop Strategy: If price reaches $6.81, consider moving SL to breakeven ($6.41) or higher.
💰 Partial Profit Booking: Take some profits at Target 1 and let the rest ride towards Target 2.
⚠️ Watch for Retest: If price retests $6.41 and holds, it confirms continued momentum.
🚀 Final Thoughts:
✅ Bullish Chart Setup – Ideal breakout conditions.
✅ Strong Volume & Trend – Key factors for continuation.
✅ Disciplined Risk Management – Maintain SL for protection.
Plan Your Trade & Trade Your Plan! 🏆💰
Let me know if you need any modifications! 🚀📈
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## Key Points Breakdown
– **Setup Type**: Bullish Breakout
– **Entry Price**: $6.41, confirmed breakout level
– **Stop-Loss (SL)**: $6.08, set below key support for effective risk management
– **Target Levels**:
– **Target 1**: $6.81 at the first resistance level
– **Target 2**: $7.22 at the major resistance level
– **Risk-Reward Ratio**: Favorable, indicating potential gains outweigh risk
– **Market Momentum**: Uptrend continuation with breakout confirmation
– **Chart Pattern**: Rising wedge breakout
– **Volume Confirmation**: Strong buying volume is crucial to support breakout sustainability
– **Trailing Stop Strategy**: Consider moving SL to breakeven or higher once Target 1 is achieved
– **Partial Profit Booking**: Recommended to take profits at Target 1, while allowing the remainder to ride towards Target 2
– **Retest Alert**: Watch for a retest at $6.41 for potential continued momentum confirmation
## Final Thoughts
Incorporating a disciplined approach characterized by stringent risk management is imperative for successful trades. The bullish chart setup, combined with solid volume and prevailing uptrend momentum, presents favorable conditions for traders looking to capitalize on potential gains. By maintaining vigilance for price action at key levels, particularly during the retest, traders can enhance their chances of achieving the outlined targets while protecting their investments.
Disclaimer. The opinions expressed by our writers are their own and do not represent the views of JustInvestNews. The financial and market information provided on JustInvestNews is intended for informational purposes only. JustInvestNews is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Original article: https://www.tradingview.com/chart/FPH/AL2ty0nN-FPH-Long-Trade-Setup-30-Min-Chart/
