Trading Plan on PLTR for the current range.

Today we will take a look at PLTR.

a) The price is inside a range since March 2021. The support and the resistance zone define this range.

b) There is an accepted idea that the expected target of a range breakout is its length above or below it. Using this, we can project a minimum target on the yellow arrow if we have a bullish breakout. However, if the price keeps going up, the next resistance zone we may encounter is the previous ATH

c) Ok, great. But how do you plan to trade this? - We want to observe a corrective pattern on the edge of the range with the same proportions as the previous one. IF that happens, we will set pending orders on the green activation line. Our stop loss will be below the structure. The break-Even level is the range projection. Our Target will be 42.60 to be conservatives.

d) If everything goes as expected, we think the movement can take between 15 to 30 days

e) We will risk on a setup like this 1% of our Capital on the stop loss.

Thanks for reading!