Palantir (PLTR) 30-min chart "Potential falling wedge" - Long.

PLTR ripped up hard in early August, forming a solid base and a steep uptrend, which has now corrected into a **clean descending channel**.
Price is now reacting off a key **Demand Zone**

The move down formed a corrective structure with potential **ending diagonal / falling wedge**, signaling a possible end to the corrective wave.

**Key Zones**

**Demand Zone:**

**\$170.31 – \$173.50**

* Price has bounced here multiple times.
* Confluence with ascending trendline.
* High volume node on VPVR = solid support.

**Supply Zone (Target Area):**

**\$190.00 – \$192.50**

* Previous high & price memory.
* Strong overhead resistance for profit-taking.

**RSI Divergence**

**bullish** divergences observed on the RSI

* While price was making lower lows, RSI indicators were making **higher lows**.
* This confirms **bullish momentum shift**. Great sign of hidden strength!

Long Setup

🎯 **Entry:**

* Market entry around **\$173.60**

🛑 **Stop Loss:**

* Just below demand zone & trendline
**\$170.31**

🎯 **Target:**

**\$190.00**

**Risk/Reward:**

* RR: **\~5.0**
* Risk: **\$3.29** per share
* Reward: **\$16.44** per share


**Risk Management**

* **Max risk: 1–3%** of total trading capital.
* Consider **reducing position size** if trading multiple assets.
* Ideal position size should match account size and stop loss to stay within defined % risk.

**Trade Management Tips**

* **Move SL to Break Even** once RR hits 1:1.
* Monitor for strong rejection at \$182–185 area (midway supply).
* Consider **scaling out 50%** of position at \$182, letting the rest run to \$190.

“Be fearful when others are greedy, and greedy when others are fearful.” – Warren Buffett

⚠️ **Disclaimer**

This analysis is for **educational purposes only** and does **not constitute financial advice**. Always do your own research and manage your risk responsibly.