Long (Buy) Setup
Thesis
Bounce/reversal off support with momentum pickup—targeting mean/next resistance.
Entry Criteria
Primary: Daily candle close above 172 (confirmation of bounce).
Aggressive: Pullback into 168–170 with a rejection wick and quick recovery (higher risk).
Confirmation (use ≥1):
RSI rising toward/above 50.
Price holding above prior minor resistance turned support (e.g., 172).
Price moving toward or through middle Bollinger band (~179) with follow-through.
Targets
T1: 178–180 (near resistance / mean).
T2: ~194 (next major swing).
Extension: 206+ if momentum is strong (scale out before major previous high).
Stop-Loss
Below 165 (tight version if entry ~172).
Or below 160 for more breathing room / aiming for larger move.
Risk/Reward Example
Entry 172, stop 165 → risk = 7 pts.
T1 180 → reward 8 pts (~1.1:1)
T2 194 → reward 22 pts (~3.1:1)