Trade Plan – Based on Reaction at Support
Scenario A: Bullish Reversal at Support
Entry: $146–144
Stop-Loss: Below $141
Target 1: $151
Target 2: $156
Target 3 (if breakout): $160+
Risk-Reward: Excellent (~1:2.5+ depending on SL/TP)
Confirmation: Bounce with volume or RSI divergence (check oscillator if possible)
Scenario B: Breakdown of Support
Short Entry: Below $141
Stop-Loss: Above $146
Target 1: $137.30
Target 2: $135.00
Target 3: $130 (if major panic/selloff)
Confirmation: 2H candle close below $141 with volume spike
Risk Management
Use small size initially; scale in on confirmation
Set alert near $144 for bounce or breakdown
Watch for fakeouts — descending triangle patterns often trap early traders