$Idea / Thesis
RAY is pressing into a multi-week resistance shelf after carving a higher-low structure on the weekly Heikin-Ashi chart. A clean weekly close above 3.41 (breakout line) would confirm continuation and invite a run on resting liquidity at prior highs. Failure to hold above that level risks a rotation back into the mid-range.
Trade Plan (trend-continuation long)
Trigger: Weekly close > 3.41, or intrawEEK break and successful retest of 3.41 as support.
Invalidation / Stop-Loss: 2.90 (below local structure & red stop band).
Targets:
TP1: 4.08 (near prior weekly high cluster / first resistance)
TP2: 6.32 (range shelf before broader supply)
TP3: 8.69 (prior major high)
Stretch: 12+ (macro take-profit marker on the chart)
Context & Levels
Consolidation under resistance with a sequence of higher lows; momentum turns constructive above 3.41.
Below 2.90, downside opens toward the mid-range; deeper pullbacks eye the discount area noted on the chart.
Risk Notes
Weekly timeframe = slower signals and larger swings. Consider scaling in on confirmation, taking partials at each TP, and trailing stops once TP1 is reached. Not financial advice—just my plan based on the plotted levels.