Asset: Roblox Corporation (RBLX)
Timeframe: 30-Min Chart
Setup Type: Symmetrical Triangle Breakdown (Bearish)
Trade Plan (Short Position):
Entry Zone: $65.14 – $65.00 (Breakdown Confirmation)
Stop-Loss (SL): $66.92 (Above Resistance)
Take Profit Targets (Short Trade):
TP1: $62.94 (First Support)
TP2: $60.33 (Extended Bearish Target)
Risk-Reward Ratio Calculation:
Risk (Stop-Loss Distance):
$65.14 – $66.92 = $1.78
Reward to TP1:
$65.14 – $62.94 = $2.20
Risk-Reward Ratio to TP1: 1:1.2
Reward to TP2:
$65.14 – $60.33 = $4.81
Risk-Reward Ratio to TP2: 1:2.7
Technical Analysis & Strategy:
Breakdown Confirmation: Wait for strong selling volume below $65.00 for a confirmed short entry.
Pattern Formation: Symmetrical Triangle Breakdown, signaling a bearish continuation.
Key Support & Resistance Levels:
$66.92 (Resistance / SL Level)
$65.14 – $65.00 (Breakdown Zone)
🟢 $62.94 (First Profit Target / Support)
🟢 $60.33 (Final Target for Momentum Extension)
Momentum Shift Expected:
If price fails to reclaim $65.00 and continues lower, we could see a drop towards $62.94 and further to $60.33.
Trade Execution & Risk Management:
Volume Confirmation: Ensure selling volume increases below $65.00 before entering.
Trailing Stop Strategy: If price reaches TP1 ($62.94), move SL to $65.00 to protect profits.
Partial Profit Booking Strategy:
Take 50% at $62.94, let the rest run to $60.33.
Adjust Stop-Loss to Break-even ($65.00) after TP1 is hit.
️ Fake Breakout Risk:
If price reclaims $65.14 and moves back inside the triangle, be cautious and avoid entering early.
Final Thoughts:
Bearish Setup – If price sustains below $65.00, further downside is expected.
Momentum Shift Possible – Watch for volume increase to confirm the trend.
Favorable Risk-Reward Ratio – 1:1.2 to TP1, 1:2.7 to TP2.
Stick to the plan, manage risk, and trade smart!
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