IKT – 30-Min Long Trade Setup!📌
🔹 Asset: Inhibikase Therapeutics, Inc. (IKT)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Trendline & Triangle Breakout Long Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $3.26 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $3.07 (Break of Support & Trendline)
🎯 Take Profit Targets
📌 TP1: $3.44 (First Resistance Level)
📌 TP2: $3.69 (Final Target – Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📈 Risk (SL Distance): $3.26 - $3.07 = $0.19 risk per share
📈 Reward to TP1: $3.44 - $3.26 = $0.18 (0.95 R/R)
📈 Reward to TP2: $3.69 - $3.26 = $0.43 (2.26 R/R)
🔍 Technical Analysis & Strategy
📌 Triangle Breakout Setup: The price is breaking out from a symmetrical triangle, signaling potential upside momentum.
📌 Trendline & Support Bounce: Price is holding above the ascending trendline, confirming a bullish structure.
📌 Breakout Confirmation: A strong bullish candle above $3.26 with volume would validate the breakout.
📌 Momentum Shift Expected: A push above $3.26 could lead to a breakout rally toward $3.44 (TP1) and $3.69 (TP2).
📊 Key Support & Resistance Levels
🟢 $3.07 – Strong Support / Stop-Loss Level
🟡 $3.26 – Entry / Breakout Level
🔴 $3.44 – First Resistance / TP1
🟢 $3.69 – Final Target / TP2
🚀 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $3.26 before entering.
📈 Trailing Stop Strategy: Move SL to entry ($3.26) after TP1 ($3.44) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $3.44, let the rest run to $3.69.
✔ Adjust Stop-Loss to Break-even ($3.26) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price breaks below $3.07, it could indicate a bearish continuation—exit early.
❌ Wait for a strong candle close above $3.26 for confirmation before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Holding above $3.26 could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:0.95 to TP1, 1:2.26 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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