🚀 📈🔥
🔍 Stock: SLS (NASDAQ)
⏳ Timeframe: 30-Min Chart
📈 Setup Type: Bullish Breakout
📍 Trade Plan:
✅ Entry: $1.33 (Breakout Confirmation)
❌ Stop-Loss (SL): $1.23 (Below key support for risk management)
🎯 Target 1: $1.45 (First Resistance Level)
🚀 Target 2: $1.57 (Major Resistance Level – Moon Shot! 🌙)
🔹 Risk-Reward Ratio: Favorable setup 📊
🔹 Momentum: Strong breakout from consolidation 📈
🔹 Pattern: Symmetrical Triangle Breakout
🔥 Trade Strategy & Refinements:
📊 Volume Confirmation: Ensure strong buying volume to validate breakout.
📉 Trailing Stop Strategy: If price reaches $1.45, consider moving SL to breakeven ($1.33) 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 $1.33 and holds, it’s a strong confirmation for continued upward movement.
🚀 Final Thoughts:
✅ Bullish Chart Setup – Strong breakout with potential continuation.
✅ Volume & Confirmation Key – Keep an eye on momentum and support levels.
✅ Smart Risk Management – Maintain SL discipline for downside protection.
Plan Your Trade & Trade Your Plan! 🏆💰
Let me know if you need any adjustments! 🚀📈
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## Key Points Breakdown
– **Setup Type**: Identified as a Bullish Breakout on the 30-Min Chart.
– **Entry Point**: $1.33, marking the breakout confirmation.
– **Stop-Loss (SL)**: Set at $1.23, situated below key support for effective risk management.
– **Target Levels**:
– **Target 1**: $1.45, the first resistance level.
– **Target 2**: $1.57, a significant resistance level – described informally as a ‘Moon Shot’.
– **Risk-Reward Ratio**: Appears favorable for this trade setup.
– **Momentum Analysis**: Notable breakout from prior consolidation indicates strong buying interest.
– **Technical Pattern**: Breakout serves as a critical signal from a Symmetrical Triangle pattern.
## Trade Strategy & Recommendations
– **Volume Confirmation**: It is essential to verify strong buying volume to validate the breakout’s legitimacy.
– **Trailing Stop Strategy**: If the price achieves the first target of $1.45, it’s advisable to adjust the SL to breakeven ($1.33) or higher to protect gains.
– **Partial Profit Booking**: Taking profits at the first target while allowing remaining positions to chase the second target can optimize the overall outcome.
– **Retest Watch**: Monitoring for a retest of the $1.33 level and observing a hold above this support could signal a bullish continuation.
### Final Thoughts
**Bullish Momentum**: The bullish chart setup is evident from the strong breakout, with substantial continuation potential. Adherence to volume and confirmation metrics is critical, as they can lend insight into market sentiment and support levels. Additionally, disciplined risk management practices should be prioritized to safeguard against potential downside risks while seeking profitable opportunities.
Plan your trade carefully and execute it with precision for optimal results!
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Original article: https://www.tradingview.com/chart/SLS/jqqoSF0i-SLS-Long-Trade-Setup-30-Min-Chart/
