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Asset: Viking Therapeutics, Inc. (VKTX – NASDAQ)
Timeframe: 15-Min Chart
Setup Type: Symmetrical Triangle Breakout + Retest
Trade Plan – Long Position
Entry Zone: $22.21 (Breakout confirmation above yellow zone)
Stop-Loss (SL): $21.38 (Below rising trendline + structural base)
Take Profit Targets:
TP1: $23.63 – Resistance zone
TP2: $25.42 – Swing high level
Risk-Reward Calculation
🟥 Risk: $0.83/share
🟩 Reward to TP2: $3.21/share
R/R Ratio: ~1 : 3.8 – Excellent swing play
Technical Highlights
Triangle squeeze breakout on volume
Structure forming higher lows + pressure build-up
Clean breakout above confluence zone
Breakout candle forming right at apex = strong momentum
Risk Management Strategy
SL to breakeven at TP1
Take partial profits at TP1
Hold remainder for full TP2 extension
️ Setup Invalidation If:
Price closes below $21.38
No follow-through above yellow resistance
Breakdown with increasing volume
Final Thoughts
Classic triangle breakout with perfect R/R
Tight SL, wide reward = trader’s dream
Keep watch on volume — it’s the fuel
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