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Current Status:
- Monthly candle (1 day left) is shaping a bullish hammer — a strong bullish reversal signal if it closes this way.
Key Level to Watch:
- $198 is the critical breakout line.
- If a candle crosses and sustains above $198, it’s a strong buy opportunity.
Trading Plan:
1. Intraday Trader Plan:
- Mark $198 as the breakout level.
- Buy when price crosses and sustains above $198.
Intraday Target:
- First target: $210.
Confirmation Setup: (for safer entry)
If the market opens with less than ±0.50% gap:
- Wait for a 1-minute red candle to form.
- Enter a buy trade when that red candle’s high gets broken.
- Stop-loss: Set below the red candle’s low.
If a gap-up happens (more than 0.50%):
- Avoid immediate entry.
- Instead, wait for a “W” pattern on smaller timeframes (like 1-min or 5-min) before buying.
2. Swing Trader Plan:
After breakout above $198:
- Hold position for bigger swing targets.
- Swing Target: $256.
Additional Note: NXPI or Any Stock Get Read Spinning Top Strategy
- For intraday traders:
- You should also review the Spinning Top Strategy (as you mentioned) for best practices around tight stop losses and momentum confirmation.
Final Summary:
| ✅ If cross above $198, it’s a strong buy. |
| ✅ Intraday target $210. |
| ✅ Swing target $256. |
| ✅ Stop-loss: Use red candle low if entering through intraday small-timeframe setup. |
| ✅ Be cautious if market gaps up more than 0.50%. |