IONQ Reversal Setup — Breakout Above Downtrend Channel!

📝 Full Description (TradingView Post):
Ticker: IONQ
Timeframe: 30-Min Chart
Trade Type: Long Reversal Setup

IONQ recently pulled back from a sharp rally and entered a consolidation phase, forming a descending trendline with horizontal support around the $39–$40 zone. Price is now showing signs of reversal from support, having just broken through short-term resistance at $40.58 with bullish structure.

This breakout sets the stage for a possible move toward the prior supply zone near $43.78, with a favorable risk/reward ratio.

🧠 Trade Plan:
Entry: $40.58 (confirmed breakout of consolidation)

Stop-Loss: $41.97

Target: $43.78

Risk/Reward: ~1:2

🔍 Technical Insights:
Breakout above falling resistance trendline

Small bullish pennant breakout within broader downtrend

Potential retest of breakout zone at $40.58

Setup forming a bullish divergence pattern

⚠️ What to Watch:

Watch for a retest of $40.58 — this could confirm the breakout level as new support

Price strength above $41.00 would further confirm upside momentum

Rejection at $41.97 would invalidate this setup

📈 Chart by ProfittoPath
Daily swing setups | Breakout levels | Smart entries