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Asset: Pacira BioSciences, Inc. (PCRX – NASDAQ)
Timeframe: 15-Min Chart
Setup Type: Triangle Breakout + Supply Zone Flip
Trade Plan – Long Position
Entry Zone: $24.56 (Breakout + confirmation above yellow zone)
Stop-Loss (SL): $23.52 (Below ascending trendline + structural base)
Take Profit Targets:
TP1: $25.90 – Local resistance
TP2: $27.57 – Major upside level
Risk-Reward Calculation
🟥 Risk: $1.04/share
🟩 Reward to TP2: $3.01/share
R/R Ratio: ~1 : 2.9 – Excellent setup
Technical Highlights
Coiled structure breakout on rising base
Clean retest of descending resistance now flipped
Volume increasing on breakout move
Higher lows + breakout wick = momentum play
Risk Management Strategy
Move SL to breakeven at TP1
Book partial profits at TP1
Hold remaining for swing to TP2
️ Setup Invalidation If:
Breakdown below $23.52
Fails to hold above trendline post-breakout
Sharp reversal with bearish volume spike
Final Thoughts
Tight technical pattern with bullish bias
Perfect blend of structure + risk control
Great R/R ratio — swing trader’s sweet spot
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