Formation of Bullish Butterfly Harmonic Pattern on LUNCUSDT 1 Hr

Dear Tradingview family,

Symbol: #LUNC_USDT

Strategy: #Harmonic_Chart_Patterns, #Butterfly_Pattern, #Trend_Reversal #Trendline #Support_Resistance #RSI_Bullish_Divergence.

Trade Call Type: #LONG.
Order Type: Buy Stop

Indicators: #Price_Action. #Chart_patterns, #Butterfly_Pattern, #Trendline #Support_Resistance #RSI_Bullish_Divergence. #RSI #RichTL

Entry: LONG when price breaks Previous Higher High .

Anchor Time: 4 Hours
Trading Time Frame: 1 Hours.

Entry price: 0.00012336
Take Profit: 0.00012842
Stop Loss: 0.00011831
RRR- 1:1

Methodology:
As a professional and experienced forex, crypto and stocks trader, I will be using a rigorous methodology that involves analyzing the price action and key levels and using a combination of indicators, harmonic chart patterns and chart patterns. I will be looking for potential trendlines , support & resistance levels where the price action may reverse and using our indicators to confirm the validity of our analysis. Based on my analysis, I will then determine the optimal entry and exit points for our trade, as well as the appropriate stop loss level to manage risk.

Analysis:
The current price action on the #LUNC_USDT chart is showing a clear Breakout of #Butterfly_Pattern, on 4 & 1 hourly timeframes. Additionally, the Bullish RSI divergence on 1 Hour time frame add value to the strength of reversal pattern.
Price action’s this move provides me opportunity to earn some profits on when it is providing a great value of RRR of 1:1.
My Buy Stop entry is planned to execute when price action breaks the previous Higher High.

Conclusion:
Based on our analysis, I believe that there is a potential trading opportunity for a LONG trade.

Risk Assessment:
Conservative Traders risk 0.5% to 1.5%, moderator traders risk 1.6% to 3.5% and aggressive traders risk 3.6% to 5% of their account per trade.

Please use Position size calculator to calculate your risk per trade.

Overall, I believe this setup has a good chance of success based on the technical analysis , but as always, it's important to monitor the price action closely and adjust the trade if necessary based on new information.