Stock: ET (NYSE)
Timeframe: 30-Min Chart
Setup Type: Falling Wedge Breakout
Trade Plan:
Entry Zone: $19.80 – $19.90 (Breakout Confirmation)
Stop-Loss (SL): $19.55 (Below Key Support)
Take Profit Targets:
TP1: $20.10 (First Resistance)
TP2: $20.53 (Extended Target)
Risk-Reward Ratio Calculation:
Risk (Stop-Loss Distance):
$19.83 – $19.55 = $0.28
Reward to TP1:
$20.10 – $19.83 = $0.27
Risk-Reward Ratio to TP1: 1:0.96
Reward to TP2:
$20.53 – $19.83 = $0.70
Risk-Reward Ratio to TP2: 1:2.5
Technical Analysis & Strategy:
Breakout Confirmation: Price attempting to break above trendline with strong support at $19.55.
Pattern Formation: Falling Wedge Breakout, signaling potential bullish reversal.
Key Support & Resistance Levels:
🟢 $19.55 (Support / SL Level)
🟢 $19.80 – $19.90 (Breakout Zone)
🟢 $20.10 (First Profit Target / Resistance)
🟢 $20.53 (Final Target for Momentum Extension)
Momentum Shift Expected:
If the price holds above $19.90, we could see a rally towards $20.10 and $20.53.
Trade Execution & Risk Management:
Volume Confirmation: Ensure strong buying volume above $19.90 before entering.
Trailing Stop Strategy: If the price reaches TP1 ($20.10), move SL to $19.90 to protect profits.
Partial Profit Booking Strategy:
Take 50% at $20.10, let the rest run to $20.53.
Adjust Stop-Loss to Break-even ($19.90) after TP1 is hit.
️ Fake Breakout Risk:
If price fails to hold above $19.80, be cautious and avoid entering early.
Final Thoughts:
Bullish Setup – If price sustains above $19.90, a strong move is expected.
Momentum Shift Possible – Watch for volume increase to confirm the trend.
Favorable Risk-Reward Ratio – 1:0.96 to TP1, 1:2.5 to TP2.
Stick to the plan, manage risk, and trade smart!
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