Kakao Bullish 📊 Trade Idea: – Fibonacci Retracement + Bullish Continuation Setup
Timeframe: Daily (1D)
Chart Type: Candlestick
Strategy Type: Swing Trade / Trend Continuation
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🧩 Trade Thesis:
After a strong impulsive move upwards, the price has retraced back to the 50%-61.8% Fibonacci zone, which historically acts as a key support area during trending markets. A possible bullish continuation pattern is forming, with consolidation visible near the 0.5 level.
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📍 Entry, Stop Loss & Take Profit:
• Buy Entry: 56,800 (Breakout or confirmation from current support zone)
• Stop Loss (S.L): 53,300 (Below the 0.618 Fib level and recent local low)
• Take Profit (T.P): 88,500 (Based on previous swing high extension / trendline projection)
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📏 Trade Metrics:
• Risk per Share: 56,800 - 53,300 = 3,500
• Reward per Share: 88,500 - 56,800 = 31,700
• Risk-to-Reward Ratio: ~1:9
A high reward/risk setup with price holding near Fibonacci support, awaiting breakout confirmation.
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🔍 Technical Confluence:
• Price has respected the 61.8% Fibonacci retracement level, a key area of potential reversal.
• Volume shows signs of stabilization after the correction phase.
• Uptrend structure remains valid unless the price closes below 53,300.
• Potential bullish flag or pennant pattern in progress, signaling continuation.
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⚠️ Trade Management:
• Aggressive Entry: Near current levels (anticipating breakout)
• Conservative Entry: Wait for daily candle close above 59,400 (confirmation)
• Adjust SL to Breakeven if price breaks above 65,000
• Watch for Rejection Signs if price approaches 61.8% level again
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🕓 Timeline Expectation:
• Short-to-Medium Term Outlook (2–6 weeks) depending on breakout and follow-through.
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📌 Note: Always review fundamental context and broader market sentiment. This is a technical idea for educational purposes only.
