Chart
Asset: Aurora Innovation Inc. (AUR)
Timeframe: 30-Min Chart
Setup Type: Bullish Pennant Breakout
Trade Plan (Long Position):
Entry Zone: $10.18 (Breakout Confirmation)
Stop-Loss (SL): $9.22 (Below Support)
Take Profit Targets (Long Trade):
TP1: $11.28 (First Resistance)
TP2: $12.61 (Extended Bullish Target)
Risk-Reward Ratio Calculation:
Risk (Stop-Loss Distance):
$10.18 – $9.22 = $0.96
Reward to TP1:
$11.28 – $10.18 = $1.10
Risk-Reward Ratio to TP1: 1:1.14
Reward to TP2:
$12.61 – $10.18 = $2.43
Risk-Reward Ratio to TP2: 1:2.53
Technical Analysis & Strategy:
Breakout Confirmation: A sustained move above $10.18 signals further upside.
Pattern Formation: Bullish Pennant formation, indicating momentum continuation.
Key Support & Resistance Levels:
🟢 $9.22 (Strong Support / SL Level)
🟡 $10.18 (Breakout Zone / Entry)
$11.28 (First Profit Target / Resistance)
🟢 $12.61 (Final Target for Momentum Extension)
Momentum Shift Expected:
If price holds above $10.18, potential move towards $11.28 and $12.61.
A high-volume breakout would confirm trend continuation.
Trade Execution & Risk Management:
Volume Confirmation: Ensure strong buying volume above $10.18.
Trailing Stop Strategy: Move SL to entry ($10.18) after TP1 ($11.28) is hit.
Partial Profit Booking Strategy:
Take 50% profits at $11.28, let the rest run to $12.61.
Adjust Stop-Loss to Break-even ($10.18) after TP1 is reached.
️ Fake Breakout Risk:
If price drops below $10.18, wait for a retest before considering re-entry.
Final Thoughts:
Bullish Setup – If price sustains above $10.18, higher targets are likely.
Momentum Shift Possible – Watch for volume confirmation.
Favorable Risk-Reward Ratio – 1:1.14 to TP1, 1:2.53 to TP2.
Stick to the plan, manage risk, and trade smart!
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