Long Trade Setup Breakdown for Planet Labs PBC (PL) - 1H Chart!📊
🔹 Asset: Planet Labs PBC (PL)
🔹 Timeframe: 1-Hour Chart
🔹 Setup Type: Descending Triangle Breakout
🚀 Trade Plan (Long Position):
✅ Entry Zone: $6.15 (Breakout Confirmation)
✅ Stop-Loss (SL): $5.85 (Below Support)
🎯 Take Profit Targets (Long Trade):
📌 TP1: $6.51 (First Resistance)
📌 TP2: $7.00 (Extended Bullish Target)
📊 Risk-Reward Ratio Calculation:
📈 Risk (Stop-Loss Distance):
$6.15 - $5.85 = $0.30
📈 Reward to TP1:
$6.51 - $6.15 = $0.36
💰 Risk-Reward Ratio to TP1: 1:1.2
📈 Reward to TP2:
$7.00 - $6.15 = $0.85
💰 Risk-Reward Ratio to TP2: 1:2.8
🔍 Technical Analysis & Strategy:
📌 Breakout Confirmation: Strong buying momentum above $6.15 signals continuation.
📌 Pattern Formation: Descending triangle breakout, indicating a potential upward move.
📊 Key Support & Resistance Levels:
🟢 $5.85 (Strong Support / SL Level)
🟡 $6.15 (Breakout Zone / Entry)
🔴 $6.51 (First Profit Target / Resistance)
🟢 $7.00 (Final Target for Momentum Extension)
🚀 Momentum Shift Expected:
If price stays above $6.15, it could push towards $6.51 and $7.00.
A higher volume breakout would confirm strength in the trend.
🔥 Trade Execution & Risk Management:
📊 Volume Confirmation: Ensure buying volume remains strong after breakout.
📈 Trailing Stop Strategy: If price reaches TP1 ($6.51), move SL to entry ($6.15) to lock in profits.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $6.51, let the rest run to $7.00.
✔ Adjust Stop-Loss to Break-even ($6.15) after TP1 is hit.
⚠️ Fake Breakout Risk:
If price drops below $6.15, be cautious and watch for a retest before re-entering.
🚀 Final Thoughts:
✔ Bullish Setup – If price holds above $6.15, higher targets are expected.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.2 to TP1, 1:2.8 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
🔗 #StockTrading #PL #BreakoutTrade #TechnicalAnalysis #MarketTrends #ProfittoPath
