🎯 Strategy Overview
We’re positioning long from the retracement zone between $59.65 – $49.52, aligning with Fibonacci retracement levels and anchored VWAP support.
⚙️ Trade Plan
We’ll execute this setup in two steps to scale into strength.
🟩 Trade #1
Entry: $53.50
Stop: Below $49.52
Target: $58.44
Risk/Reward: 2.3 R
Rationale: Entry at the 0.382 Fib level after a bullish reaction around the VWAP and reclaim of short-term structure.
🟩 Trade #2 (Add-Up Position)
Entry: $56.21
Stop: Below $49.52
Target: $62.32
Risk/Reward: 2.1 R
Rationale: Add exposure once price clears the local resistance and confirms strength above the 80 MA, signaling momentum continuation.
📊 Technical Context
Retracement range: $59.65 → $49.52
Confluence: Fibonacci + VWAP + volume confirmation
RSI recovering from mid-40s and turning upward
Volume expansion near breakout attempt suggests accumulation
We’re positioning long from the retracement zone between $59.65 – $49.52, aligning with Fibonacci retracement levels and anchored VWAP support.
⚙️ Trade Plan
We’ll execute this setup in two steps to scale into strength.
🟩 Trade #1
Entry: $53.50
Stop: Below $49.52
Target: $58.44
Risk/Reward: 2.3 R
Rationale: Entry at the 0.382 Fib level after a bullish reaction around the VWAP and reclaim of short-term structure.
🟩 Trade #2 (Add-Up Position)
Entry: $56.21
Stop: Below $49.52
Target: $62.32
Risk/Reward: 2.1 R
Rationale: Add exposure once price clears the local resistance and confirms strength above the 80 MA, signaling momentum continuation.
📊 Technical Context
Retracement range: $59.65 → $49.52
Confluence: Fibonacci + VWAP + volume confirmation
RSI recovering from mid-40s and turning upward
Volume expansion near breakout attempt suggests accumulation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.