FLNC is poised for a breakout after forming a tight range, with market structure indicating a potential shift in sentiment. Current price action suggests a strong foundation for a long trade.
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๐ข FLNC LONG ๐
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๐ Entry Range: $21.1089 โ $21.1511
๐ Stop Loss: $20.4961 (-3.0%)
๐ฏ TP1: $21.4469 (+1.5%)
๐ TP2: $22.1865 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 88%
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The setup for FLNC long is compelling, with a cluster of signals including a clear market structure break, volume confirming the direction, and a significant fair value gap that has formed, alongside an order block that adds confluence to our point of interest. These signals collectively suggest a high-probability trade. The overlap of the order block and fair value gap creates a strong argument for a price reversal.
Given the 3.0% stop loss, which is moderately tight, a leverage of 2-3 times fits this trade, balancing the risk-reward ratio of 1:1.7.
Taking partial profit at the first target makes sense to lock in some gains, especially if FLNC reaches the lower end of the anticipated range, allowing for a more aggressive management of the remaining position.
Not financial advice โ always manage your own risk ๐
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