BNS (Bank of Nova Scotia) – 30-Min Short Trade Setup!
📉 🚀
🔹 Asset: Bank of Nova Scotia (BNS)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown Trade
📌 Trade Plan (Short Position)
✅ Entry Zone: Below $68.92 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $70.82 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $66.37 (First Support Level)
📌 TP2: $64.21 (Extended Bearish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $70.82 - $68.92 = $1.90 risk per unit
📈 Reward to TP1: $68.92 - $66.37 = $2.55 (1:1.34 R/R)
📈 Reward to TP2: $68.92 - $64.21 = $4.71 (1:2.48 R/R)
💡 Favorable Risk-Reward Ratio – Aiming for a 1:2.48 R/R at TP2.
🔍 Technical Analysis & Strategy
📌 Bearish Descending Triangle Breakdown – Price has been forming lower highs, indicating weakness.
📌 Weak Buying Pressure – The price is failing to break out and is consolidating near the $68.92 support level.
📌 Volume Confirmation Needed – A strong increase in selling volume below $68.92 will confirm bearish momentum.
📌 Momentum Shift Expected – If the price remains below $68.92, further downside toward $66.37, then $64.21 is expected.
📊 Key Resistance & Support Levels
🔴 $70.82 – Stop-Loss / Resistance Level
🟡 $68.92 – Breakdown Level / Short Entry
⚪ $66.37 – First Target / TP1
🟢 $64.21 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation – Ensure strong selling pressure below $68.92 before entering.
📉 Trailing Stop Strategy – Move SL to breakeven ($68.92) after hitting TP1 ($66.37).
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $66.37, let the rest run to $64.21.
✔ Adjust SL to breakeven ($68.92) after TP1 is hit.
⚠️ Fake Breakdown Risk:
❌ If price moves back above $68.92, exit early to limit losses.
❌ Wait for a strong bearish candle close before entering aggressively.
🚀 Final Thoughts
✔ Bearish Setup – Breakdown signals downside potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:2.48 R/R to TP2.
💡 Stick to the plan, manage risk, and trade smart! 📉🔥
🔗 Hashtags for Engagement:
#BNS 📉 #StockTrading 📊 #TradingNews 📉 #MarketUpdate 🔥 #Investing 💰 #ShortTrade 📉 #Stocks 📈 #ProfittoPath 🏆 #SwingTrading 🔄 #DayTrading ⚡ #TechnicalAnalysis 📉 #StockSignals 📊 #FinancialFreedom 💡 #MarketTrends 📊 #StockAlerts 🔔 #TradeSmart 🤓 #Bearish 📉 #RiskManagement ⚠️ #TradingCommunity 🤝 #SmartTrading 💰 #MarketAnalysis 📊 #TrendBreakdown 🚀
🔹 Asset: Bank of Nova Scotia (BNS)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown Trade
📌 Trade Plan (Short Position)
✅ Entry Zone: Below $68.92 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $70.82 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: $66.37 (First Support Level)
📌 TP2: $64.21 (Extended Bearish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): $70.82 - $68.92 = $1.90 risk per unit
📈 Reward to TP1: $68.92 - $66.37 = $2.55 (1:1.34 R/R)
📈 Reward to TP2: $68.92 - $64.21 = $4.71 (1:2.48 R/R)
💡 Favorable Risk-Reward Ratio – Aiming for a 1:2.48 R/R at TP2.
🔍 Technical Analysis & Strategy
📌 Bearish Descending Triangle Breakdown – Price has been forming lower highs, indicating weakness.
📌 Weak Buying Pressure – The price is failing to break out and is consolidating near the $68.92 support level.
📌 Volume Confirmation Needed – A strong increase in selling volume below $68.92 will confirm bearish momentum.
📌 Momentum Shift Expected – If the price remains below $68.92, further downside toward $66.37, then $64.21 is expected.
📊 Key Resistance & Support Levels
🔴 $70.82 – Stop-Loss / Resistance Level
🟡 $68.92 – Breakdown Level / Short Entry
⚪ $66.37 – First Target / TP1
🟢 $64.21 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation – Ensure strong selling pressure below $68.92 before entering.
📉 Trailing Stop Strategy – Move SL to breakeven ($68.92) after hitting TP1 ($66.37).
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $66.37, let the rest run to $64.21.
✔ Adjust SL to breakeven ($68.92) after TP1 is hit.
⚠️ Fake Breakdown Risk:
❌ If price moves back above $68.92, exit early to limit losses.
❌ Wait for a strong bearish candle close before entering aggressively.
🚀 Final Thoughts
✔ Bearish Setup – Breakdown signals downside potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:2.48 R/R to TP2.
💡 Stick to the plan, manage risk, and trade smart! 📉🔥
🔗 Hashtags for Engagement:
#BNS 📉 #StockTrading 📊 #TradingNews 📉 #MarketUpdate 🔥 #Investing 💰 #ShortTrade 📉 #Stocks 📈 #ProfittoPath 🏆 #SwingTrading 🔄 #DayTrading ⚡ #TechnicalAnalysis 📉 #StockSignals 📊 #FinancialFreedom 💡 #MarketTrends 📊 #StockAlerts 🔔 #TradeSmart 🤓 #Bearish 📉 #RiskManagement ⚠️ #TradingCommunity 🤝 #SmartTrading 💰 #MarketAnalysis 📊 #TrendBreakdown 🚀
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.