PLTR is consolidating within a tightening range, showing signs of a potential breakout. This trading plan provides insights into price action, key levels, and trading setups for both scalping and swing trading opportunities.
Market Structure & Price Action:
* Recent Trend: PLTR has been trading sideways, forming a tightening wedge pattern between $64 and $68. The price is testing upper resistance at $67.50, signaling potential breakout energy.
* Liquidity Zones:
* Buyers have defended the $64 zone consistently, forming a strong demand area.
* Sellers are active near $67.50–$68, creating a supply zone that caps further upside.
Key Levels:
1. Resistance Zones:
* $67.50–$68: Immediate resistance zone where selling pressure increases.
* $70: Psychological level and key breakout target.
2. Support Zones:
* $66: Short-term support within the wedge.
* $64: Strong demand zone and wedge bottom.
Indicators:
* MACD (1-hour): The MACD is bullish, with a crossover indicating upward momentum, but histogram growth is flattening, signaling a possible pause or pullback.
* Volume: Relatively low volume suggests consolidation; a breakout will require higher volume for confirmation.
Trade Ideas:
1. Scalping Setup:
* Entry (Long): Above $67.50 with confirmation (strong bullish candles or increased volume).
* Target: $68.50–$69.
* Stop-Loss: Below $66.80.
* Short Setup: If price rejects $67.50, short below $66 targeting $64, with a stop above $67.
2. Swing Trading Setup:
* Bullish Case:
* Entry: On a breakout above $68.
* Target 1: $70.
* Target 2: $72–$73.
* Stop-Loss: Below $67.
* Bearish Case:
* Entry: Short below $64.
* Target 1: $62.
* Target 2: $60.
* Stop-Loss: Above $65.
Game Plan for the Week:
1. Watch for a breakout above $67.50 or a breakdown below $64, as these levels are critical for the next directional move.
2. Use lower timeframes (5-min, 15-min) to refine scalping entries based on breakout confirmation or rejection.
3. Stay patient during consolidation and wait for a decisive move with strong volume.
Thoughts & Outlook: Palantir's tightening range indicates that a breakout is imminent. A move above $68 could trigger bullish momentum, while a break below $64 may lead to a deeper pullback. Traders should stay vigilant and wait for volume confirmation before taking positions.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and trade responsibly. Trading involves significant risk.
Market Structure & Price Action:
* Recent Trend: PLTR has been trading sideways, forming a tightening wedge pattern between $64 and $68. The price is testing upper resistance at $67.50, signaling potential breakout energy.
* Liquidity Zones:
* Buyers have defended the $64 zone consistently, forming a strong demand area.
* Sellers are active near $67.50–$68, creating a supply zone that caps further upside.
Key Levels:
1. Resistance Zones:
* $67.50–$68: Immediate resistance zone where selling pressure increases.
* $70: Psychological level and key breakout target.
2. Support Zones:
* $66: Short-term support within the wedge.
* $64: Strong demand zone and wedge bottom.
Indicators:
* MACD (1-hour): The MACD is bullish, with a crossover indicating upward momentum, but histogram growth is flattening, signaling a possible pause or pullback.
* Volume: Relatively low volume suggests consolidation; a breakout will require higher volume for confirmation.
Trade Ideas:
1. Scalping Setup:
* Entry (Long): Above $67.50 with confirmation (strong bullish candles or increased volume).
* Target: $68.50–$69.
* Stop-Loss: Below $66.80.
* Short Setup: If price rejects $67.50, short below $66 targeting $64, with a stop above $67.
2. Swing Trading Setup:
* Bullish Case:
* Entry: On a breakout above $68.
* Target 1: $70.
* Target 2: $72–$73.
* Stop-Loss: Below $67.
* Bearish Case:
* Entry: Short below $64.
* Target 1: $62.
* Target 2: $60.
* Stop-Loss: Above $65.
Game Plan for the Week:
1. Watch for a breakout above $67.50 or a breakdown below $64, as these levels are critical for the next directional move.
2. Use lower timeframes (5-min, 15-min) to refine scalping entries based on breakout confirmation or rejection.
3. Stay patient during consolidation and wait for a decisive move with strong volume.
Thoughts & Outlook: Palantir's tightening range indicates that a breakout is imminent. A move above $68 could trigger bullish momentum, while a break below $64 may lead to a deeper pullback. Traders should stay vigilant and wait for volume confirmation before taking positions.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and trade responsibly. Trading involves significant risk.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.