PALANTIR: Bullish Continuation Post-Correction
Palantir shows strong bullish momentum, with a significant rally followed by a sharp correction. This idea leverages potential support levels and moving averages to project a continuation toward higher targets.
Plan Details:
- Entry Zone: Anticipate a retracement to the key support zone around $68.50-$70.00, coinciding with recent consolidation and volume nodes (as per the Volume Profile).
- Indicators to Monitor:
1. Moving Averages:
20 SMA (orange line) acts as dynamic support near $68.50. 50 SMA (blue line) supports the overall bullish trend.
2. Volume Analysis:
A visible increase in buying volume during the previous rally suggests strong demand near $70.
Trade Setup:
- Entry: Watch for a volume spike and BOS/CHOC during the retest of the support zone. Long Position: Enter near the $68.50-$70.00 range.
- Stop Loss: Below $65.66, ensuring protection against a deeper retracement.
- Take Profit Levels: First Target: $78.30 (recent high and resistance zone). Second Target: $90.00 (psychological level and long-term resistance).
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Plan Details:
- Entry Zone: Anticipate a retracement to the key support zone around $68.50-$70.00, coinciding with recent consolidation and volume nodes (as per the Volume Profile).
- Indicators to Monitor:
1. Moving Averages:
20 SMA (orange line) acts as dynamic support near $68.50. 50 SMA (blue line) supports the overall bullish trend.
2. Volume Analysis:
A visible increase in buying volume during the previous rally suggests strong demand near $70.
Trade Setup:
- Entry: Watch for a volume spike and BOS/CHOC during the retest of the support zone. Long Position: Enter near the $68.50-$70.00 range.
- Stop Loss: Below $65.66, ensuring protection against a deeper retracement.
- Take Profit Levels: First Target: $78.30 (recent high and resistance zone). Second Target: $90.00 (psychological level and long-term resistance).
If you follow me, you will receive regular updates on this idea.
If you want to learn trading, please see details in my signature.
ノート
Enter now long 70.40
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