IIIN โ 30-Min Short Trade Setup !๐ ๐ป
Ticker: IIIN (NYSE)
Pattern: Rising Wedge Breakdown (Bearish Pattern)
Volume: Weak near resistance zone
๐ผ Trade Plan โ Short Position
๐ซ Entry: $32.58 (Near wedge resistance + rejection candle)
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Stop-Loss: $33.69 (Above wedge and resistance wick)
๐ฏ Targets:
๐ TP1: $30.93 โ First structure support
๐ TP2: $29.01 โ Major support zone from previous range
โ๏ธ Risk-Reward Ratio
Risk per share: $1.11
Reward to TP2: $3.57
R:R Ratio: ~1 : 3.2 โ Excellent short trade potential
๐ Technical Highlights
Price rejecting wedge resistance
Formed a rising wedge โ common reversal pattern
Weak bullish momentum near top
๐ฅ
IIIN trade ideas
Buying This Stock @ 34.65This stock is at a major support on the 200-day moving average also you can see the support level by looking at the MACD histogram which is in red color.
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It is clear that this stock is in an uptrend and a reverse.
Learning how to see this you need to learn the Rocket booster strategy
in order to really understand reversal patterns
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Also, you need to learn about candle stick patterns
which are very much connected to Eastern philosophy
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For example when the candle is black its means "attack at night"
and when the candle is white it means attack in "daylight''
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When trading try your best to have a mindset of a general in an army
and always look at it like a war strategy,
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Rocket Boost This Content to learn more.
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Disclaimer:This is not financial advice do your own research before you buy or sell anything.You will lose money trading take this as a warning.