OVBC – 30-Min Short Trade Setup !📉 🔻
🔹 Asset: Ohio Valley Banc Corp. (OVBC – NASDAQ)
🔹 Chart Pattern: Rising Wedge Breakdown + Retest
🔹 Timeframe: 30-Minute
📊 Trade Plan – Short Position
✅ Entry Zone: $38.91 (Breakdown + yellow level rejection + retest confirmation)
✅ Stop-Loss (SL): $42.08 (Above wedge resistance and structure high)
🎯 Take Profit Targets:
📌 TP1: $34.54 – Previous support zone
📌 TP2: $30.45 – Key horizontal demand level
📐 Risk-Reward Calculation
🟥 Risk per share: $3.17
🟩 Reward to TP2: $8.46
📊 R/R Ratio: ~1 : 2.7 – Excellent short setup
🔍 Technical Highlights
📌 Rising wedge breakdown confirmed with volume
📌 Yellow level flipped from support to resistance ✔
📌 Clean rejection wick followed by bearish close
📌 Breakdown aligned with broader pullback trend
📉 Risk Management Strategy
🔁 Lock in gains at TP1
📉 Shift SL to breakeven after TP1 hit
💰 Let runner ride to TP2 with trailing stop
🚨 Setup Invalidation If:
❌ Price reclaims and holds above $42.08
❌ Bullish engulfing candle reclaims yellow level
❌ No follow-through below $38 support
