RDDT · 4H — Rising-Wedge Setup with Targets at $172 and $185

Setup Summary

Rising wedge structure forming since late June. Price recently pulled back to test support at ~$144–145, where the rising trendline intersects horizontal structure.

Momentum remains bullish: The prior move from $110 to $165 was impulsive, and this consolidation appears corrective so far.

Volume profile (VPVR) shows a thin liquidity zone between $150 and $172, suggesting a strong move is likely if the $150 level is reclaimed.



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🎯 Target Zones

Target Level Rationale

1st Target $169 Matches wedge breakout projection + aligns with prior IPO supply and volume gap resistance.
2nd Target $177 Psychological round number + coincides with IPO opening print and the highest rejection wick seen so far.



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🛠️ Trade Plan

Component Level

Trigger Entry on bounce from $144 or breakout/reclaim of $150.
Invalidation Close below $142 breaks wedge structure.
TP-1 $172 – take 50–70% off, move stop to breakeven.
TP-2 $185 – runner target; exit if price shows rejection.



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⚠️ Risk Notes

Wedge patterns can fake out — wait for confirmation (e.g. a 4H bullish engulfing or volume reclaim above $148–150).

Earnings or lock-up expiration could introduce volatility (check calendar).

If support at $143 fails, look for next demand at $134–135 (prior breakout base).



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✅ Checklist

[x] Structure: Rising wedge in uptrend

[x] Support: Held above previous breakout zone

[x] Volume profile: Favorable thin zone toward $172

[x] Risk defined below $142


> Disclaimer: This idea is for educational purposes only. Trade your own plan and always use proper risk management.