SLP – 30-Min Long Trade Setup!📈 🟢
🔹 Asset: Simulations Plus, Inc. (SLP – NASDAQ)
🔹 Chart Pattern: Symmetrical Triangle Breakout + Retest
🔹 Timeframe: 30-Minute
📊 Trade Plan – Long Position
✅ Entry Zone: $33.86 (Breakout above triangle + yellow level reclaim)
✅ Stop-Loss (SL): $32.29 (Below rising trendline and structure base)
🎯 Take Profit Targets:
📌 TP1: $36.54 – Previous key resistance
📌 TP2: $39.26 – Major horizontal resistance zone
📐 Risk-Reward Calculation
🟥 Risk per share: $1.57
🟩 Reward to TP2: $5.40
📊 R/R Ratio: ~1 : 3.4 – High reward with defined risk
🔍 Technical Highlights
📌 Clean breakout from triangle resistance
📌 Reclaim of yellow horizontal level with breakout candle ✔
📌 Consistent higher lows forming a strong ascending base
📌 Volume gradually increasing near breakout
📉 Risk Management Strategy
🔁 Move SL to breakeven once TP1 is reached
💰 Lock partial profits at TP1
🚀 Ride the runner to TP2 using a trailing stop if momentum builds
🚨 Setup Invalidation If:
❌ Price closes back below $32.29
❌ Rejection with strong bearish candle near $36.50
❌ Fails to hold above triangle breakout zone
