📉 🔻
🔹 Asset: Ohio Valley Banc Corp. (OVBC – NASDAQ)
🔹 Chart Pattern: Rising Wedge Breakdown + Retest
🔹 Timeframe: 30-Minute
📊 Trade Plan – Short Position
✅ Entry Zone: $38.91 (Breakdown + yellow level rejection + retest confirmation)
✅ Stop-Loss (SL): $42.08 (Above wedge resistance and structure high)
🎯 Take Profit Targets:
📌 TP1: $34.54 – Previous support zone
📌 TP2: $30.45 – Key horizontal demand level
📐 Risk-Reward Calculation
🟥 Risk per share: $3.17
🟩 Reward to TP2: $8.46
📊 R/R Ratio: ~1 : 2.7 – Excellent short setup
🔍 Technical Highlights
📌 Rising wedge breakdown confirmed with volume
📌 Yellow level flipped from support to resistance ✔
📌 Clean rejection wick followed by bearish close
📌 Breakdown aligned with broader pullback trend
📉 Risk Management Strategy
🔁 Lock in gains at TP1
📉 Shift SL to breakeven after TP1 hit
💰 Let runner ride to TP2 with trailing stop
🚨 Setup Invalidation If:
❌ Price reclaims and holds above $42.08
❌ Bullish engulfing candle reclaims yellow level
❌ No follow-through below $38 support
🔹 Asset: Ohio Valley Banc Corp. (OVBC – NASDAQ)
🔹 Chart Pattern: Rising Wedge Breakdown + Retest
🔹 Timeframe: 30-Minute
📊 Trade Plan – Short Position
✅ Entry Zone: $38.91 (Breakdown + yellow level rejection + retest confirmation)
✅ Stop-Loss (SL): $42.08 (Above wedge resistance and structure high)
🎯 Take Profit Targets:
📌 TP1: $34.54 – Previous support zone
📌 TP2: $30.45 – Key horizontal demand level
📐 Risk-Reward Calculation
🟥 Risk per share: $3.17
🟩 Reward to TP2: $8.46
📊 R/R Ratio: ~1 : 2.7 – Excellent short setup
🔍 Technical Highlights
📌 Rising wedge breakdown confirmed with volume
📌 Yellow level flipped from support to resistance ✔
📌 Clean rejection wick followed by bearish close
📌 Breakdown aligned with broader pullback trend
📉 Risk Management Strategy
🔁 Lock in gains at TP1
📉 Shift SL to breakeven after TP1 hit
💰 Let runner ride to TP2 with trailing stop
🚨 Setup Invalidation If:
❌ Price reclaims and holds above $42.08
❌ Bullish engulfing candle reclaims yellow level
❌ No follow-through below $38 support
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.
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.