RESOLV is breaking out of its market structure, fueled by a surge in volume that confirms the direction. This move has significant implications, setting the stage for a potential long trade.
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๐ข RESOLV LONG ๐
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๐ Entry Range: $0.020210 โ $0.020250
๐ Stop Loss: $0.019623 (-3.0%)
๐ฏ TP1: $0.020533 (+1.5%)
๐ TP2: $0.021242 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 91%
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The CHoCH signal fired as RESOLV broke through a key level, and volume has been building, supported by the CVD signal. Additionally, the presence of an FVG and an OB in this zone, combined with a POI confluence, makes this area crucial for bulls. The structure here suggests a strong foundation for a long setup.
With a 3.0% stop loss, this trade has a relatively tight risk profile, which should fit well with moderate to high leverage, depending on the trader's risk tolerance.
Taking partial profits at the first target point could be a prudent move, allowing traders to capitalize on some of the gains while letting the rest of the position ride out the potential upside.
Not financial advice โ always manage your own risk ๐
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