Trade Setup Breakdown for CRNC (30-Min Chart)!📊
🔹 Stock: CRNC (NASDAQ)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Support Retest & Breakout Trade
🚀 Trade Plan:
✅ Entry Zone: $15.40 - $15.50 (Support Retest & Breakout Confirmation)
✅ Stop-Loss (SL): $14.84 (Below Key Support)
🎯 Take Profit Targets:
📌 TP1: $16.09 (First Resistance)
📌 TP2: $16.80 (Extended Target)
📊 Risk-Reward Ratio Calculation:
📉 Risk (Stop-Loss Distance):
$15.48 - $14.84 = $0.64
📈 Reward to TP1:
$16.09 - $15.48 = $0.61
💰 Risk-Reward Ratio to TP1: 1:0.95
📈 Reward to TP2:
$16.80 - $15.48 = $1.32
💰 Risk-Reward Ratio to TP2: 1:2.06
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: Price holding above $15.40, testing prior breakout zone.
📌 Pattern Formation: Ascending Support Retest, signaling bullish continuation.
📊 Key Support & Resistance Levels:
🟢 $14.84 (Support / SL Level)
🟢 $15.40 - $15.50 (Breakout Zone)
🟢 $16.09 (First Profit Target / Resistance)
🟢 $16.80 (Final Target for Momentum Extension)
🚀 Momentum Shift Expected:
If the price sustains above $15.50, we could see an upside rally towards $16.09 and $16.80.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure strong buying volume above $15.50 before entering.
📈 Trailing Stop Strategy: If price reaches TP1 ($16.09), move SL to $15.50 to lock in profits.
💰 Partial Profit Booking Strategy:
✔ Take 50% at $16.09, let the rest run to $16.80.
✔ Adjust Stop-Loss to Break-even ($15.50) after TP1 is hit.
⚠️ Fake Breakout Risk:
If price fails to hold above $15.40, be cautious and avoid entering early.
🚀 Final Thoughts:
✔ Bullish Setup – If price sustains above $15.50, a strong move is expected.
✔ Momentum Shift Possible – Watch for volume increase to confirm the trend.
✔ Favorable Risk-Reward Ratio – 1:0.95 to TP1, 1:2.06 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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