PLTR has shown impressive strength today, breaking through key resistance levels with high volume. Here’s a trading plan to capitalize on its momentum or prepare for potential pullbacks.
1️⃣ Price Action & Chart Analysis
* Trend Overview: PLTR is in a strong uptrend, pushing above $71.50, a key resistance level.
* Key Levels:
* Resistance: $71.54 (current high), $73.00 (next target).
* Support: $69.50 (recent breakout zone), $67.86 (previous support).
PLTR is trading at an elevated level, so managing risk is crucial for new positions.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: Watch for activity around $70.50–$71.50, where consolidation may occur before another move higher.
* Order Block: Significant demand zone identified near $67.50–$68.50 from recent accumulation.
3️⃣ Scalping Strategy
For quick intraday opportunities:
* Entry (Breakout): Buy above $71.60 if volume supports the move. Target $72.50–$73.00 for a quick scalp.
* Stop-Loss: Below $71 to minimize downside risk.
* Rejection Play: If $71.50 holds as resistance, consider a short trade targeting $70.
4️⃣ Swing Trade Strategy
For longer-term positions:
* Entry Option 1: Buy on a confirmed breakout above $71.50.
* Entry Option 2: Wait for a pullback to $69–$70 for a better risk-reward setup.
* Targets:
* Initial Target: $73.50
* Extended Target: $75.00
* Stop-Loss: Below $67.50 for a conservative approach.
5️⃣ Momentum & Indicators
* MACD: Positive momentum confirms bullish sentiment with no signs of reversal yet.
* Volume: Increasing volume supports the breakout, signaling strong interest from bulls.
Game Plan for Tomorrow
* Scenario 1: If PLTR sustains above $71.50, expect a continuation toward $73 or higher.
* Scenario 2: Failure to hold $71.50 could lead to consolidation or a pullback to $70.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always conduct your own research and due diligence before making any trades.
1️⃣ Price Action & Chart Analysis
* Trend Overview: PLTR is in a strong uptrend, pushing above $71.50, a key resistance level.
* Key Levels:
* Resistance: $71.54 (current high), $73.00 (next target).
* Support: $69.50 (recent breakout zone), $67.86 (previous support).
PLTR is trading at an elevated level, so managing risk is crucial for new positions.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: Watch for activity around $70.50–$71.50, where consolidation may occur before another move higher.
* Order Block: Significant demand zone identified near $67.50–$68.50 from recent accumulation.
3️⃣ Scalping Strategy
For quick intraday opportunities:
* Entry (Breakout): Buy above $71.60 if volume supports the move. Target $72.50–$73.00 for a quick scalp.
* Stop-Loss: Below $71 to minimize downside risk.
* Rejection Play: If $71.50 holds as resistance, consider a short trade targeting $70.
4️⃣ Swing Trade Strategy
For longer-term positions:
* Entry Option 1: Buy on a confirmed breakout above $71.50.
* Entry Option 2: Wait for a pullback to $69–$70 for a better risk-reward setup.
* Targets:
* Initial Target: $73.50
* Extended Target: $75.00
* Stop-Loss: Below $67.50 for a conservative approach.
5️⃣ Momentum & Indicators
* MACD: Positive momentum confirms bullish sentiment with no signs of reversal yet.
* Volume: Increasing volume supports the breakout, signaling strong interest from bulls.
Game Plan for Tomorrow
* Scenario 1: If PLTR sustains above $71.50, expect a continuation toward $73 or higher.
* Scenario 2: Failure to hold $71.50 could lead to consolidation or a pullback to $70.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always conduct your own research and due diligence before making any trades.
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.