Asset: VERX (NASDAQ)
Timeframe: 30-Min Chart
Setup Type: Trendline Bounce + Falling Wedge Breakout
Trade Plan (Long Position)
Entry Zone: Above $35.00 (Trendline and wedge breakout)
Stop-Loss (SL): Below $34.73 (Trendline support & previous low)
Take Profit Targets
TP1: $36.46 (Horizontal resistance zone)
TP2: $37.43 (Major resistance / extension level)
Risk-Reward Ratio Calculation
Risk (SL Distance):
$35.00 – $34.73 = $0.27 risk per share
Reward to TP1:
$36.46 – $35.00 = $1.46 (5.41:1 R/R)
Reward to TP2:
$37.43 – $35.00 = $2.43 (9:1 R/R)
Technical Analysis & Strategy
Trendline Respect: Clean bounce from rising trendline support
Falling Wedge Breakout: Break of descending resistance suggests bullish momentum shift
Volume Confirmation: Small green breakout candle + bounce suggests buyers stepping in
Retest & Reversal: Rejected below $35 and reclaimed, confirming support strength
️ Trade Execution & Risk Management
Confirm entry after a 30-min bullish close above $35.00
Trailing Stop Strategy: Move SL to breakeven once TP1 is hit
Partial Profit Booking Strategy
Book 50% at TP1 = $36.46
Let the remaining ride toward TP2 = $37.43
Adjust stop-loss above entry to secure profits
️ Breakout Failure Risk
Setup invalid if price breaks below $34.73
Avoid entry without candle close above $35.00
Final Thoughts
Bounce from trendline with breakout = high-conviction signal
Impressive R/R potential: up to 9:1 to TP2
Clean, low-risk setup with well-defined technicals
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