Rigetti Computing Inc. (RGTI) Long Setup

Rigetti Computing Inc. (RGTI) price appears to be completing ABC correction in the 15min chart, possibly completed wave (2) of an impulse wave structure and is set for a potential bullish continuation into wave (3).

Setup:

RGTI is completing wave (2) correction and is poised to enter wave (3), targeting higher levels.

Strategy:
Enter at current levels or wait for confirmation of bullish momentum breaking above $11.79.

Trade Plan:

Entry: $10.46, or confirmation entry $11.79
Stop Loss: $9.70
Take Profit: $18.26

Position Size: Adjust to limit risk to 1-2% of account equity.

Risk-Reward Ratio:

Entry at $10.26 with a stop at $9.70 and target at $18.26 offers an RRR of approximately 1:10.
Confirmation Entry RRR is ~1:3

Confirmation:

Monitor for bullish candlestick patterns or a breakout above the $11.70 level to confirm the start of wave (3).

Disclaimer:
This analysis is for educational purposes only. Trading financial markets involves risk, and you should not trade with money you cannot afford to lose. Past performance is not indicative of future results. Consult a licensed financial advisor before making any trading decisions.

Trade Advice:
Stick to your risk management rules and avoid overleveraging.
If the price breaks below $9.70, then the trade is not valid for confirmation entry.

Use alerts to monitor key levels ($11.7 for confirmation and $9.70 for the stop loss).