VIX Monday Trading Plan: Entry, Stop Loss, and Targets!
### **Chart Key Levels:**
1. **Support Levels**:
- **Yellow Line (Entry Point)**: Around **18.35**.
- This serves as a potential entry zone based on the current consolidation and trendline support.
2. **Stop Loss (SL)**:
- **15.11** (White Support Line): This level represents a key support zone. If breached, it indicates a further decline in volatility, invalidating the setup.
3. **Targets (T1 & T2)**:
- **Target 1 (T1)**: **22.01** (Red Line) – A key resistance level and first profit-taking zone.
- **Target 2 (T2)**: **26.54** (Green Line) – The next resistance zone for a larger move, aligning with recent high levels.
### **Entry Setup**:
- Enter the trade near **18.35**, as this zone aligns with horizontal and trendline support.
- Look for confirmation like a bounce or bullish momentum before entering.
### **Trade Risk and Reward**:
- **Stop Loss**: Tight stop loss at **15.11** to minimize risk if the price breaks below support.
- **Reward**:
- T1: Approximately **3.66 points** from entry (around 20% gain).
- T2: Approximately **8.19 points** from entry (around 45% gain).
### **Potential Scenarios**:
1. **Bullish Scenario**:
- If the price holds above **18.35** and shows strength, it can move toward **22.01** (T1) and eventually **26.54** (T2).
2. **Bearish Scenario**:
- If the price breaks below **15.11**, the setup fails, and further downside is expected.
This plan is based on the current technical analysis and key levels observed on the chart. Monitor price action closely at entry and adjust stop loss and targets based on Monday's market momentum. Let me know if you'd like additional clarification or adjustments!
Conclusion:
By entering near 18.35 with a strict stop loss at 15.11, this setup provides a favorable risk-reward ratio targeting 22.01 and 26.54, aligning with key support and resistance levels.
