$SOL $SOLPERP - On iT'S Way Toward Break of Structure #SMT

28 Jun 2021

Not Many Shorts to take advantage of, but at least this will map out when they happen if they are to happen. Ahead we have Bearish order Block, 32.3450-32.5250, which should send it down to the Breaker Block is. This is where I would be looking to go long, near 31.0225 to 30.2100 (It's circled in the paths) In this area there is a Fair Value Gap just below a liquidity point (because that's where everyone else would expect it to go long, Smart Money might push it further down) The reason the stop loss is in that place is because that covers the full Fair Value Gap and Bullish Order Block, any lower than that and it's taking out that sell-side liquidity and most likely moving lower (that part is at the end). The next pass would get us to where price want to go right now anyway, the liquidity point where all the sell limits are placed and buy stops are placed. Here we could see price jump back and forth taking out each side of the market, such as shorting just before the line to get people thinking it will once again short before making a turn to the north. The short people start chasing it, it passes the line triggering the buy stops, until it hit's the tiny but silll bearish order block would then send the path back down taking out the buy stops if the have short stop losses (These people think that same line will act as support so they use thin stop losses) and then finally settling on moving up. The next point it will be seeking will be the $36 mark where there are two equal highs, again another liquidity point where limits are set and retail are expecting it to short. I'm expecting a long right through it but if not that would be a final target. At least I'll be taking off most of my position here, my stop loss should be well into profit by then and we'll just wee what happens next. In the heart of all of this Solana has been the hardest to break down.

And as noted if all goes wrong in the beginning and we just go below the early liquidity point and through the fir value goes (Watch those because either one could cause a reversal) but I would think it would be headed toward the lowest bullish order block that is ner before getting another chance at going long.

Anyways just my thought. In no way shape or form are my thoughts considered financial advice. Good Luck and Good Trading.


- Bodies X Wix

28 Jun 2021

Nota

Didn;t com down into the Breaker Block after the push back from the bearish order block because it formed a bullish order block on the way up. Wantry Zone wouls now be that area.

28 Jun 2021

Dagangan aktif

Hope you're sticking with it I entered a second Position at 31.3850 and set my sights for my first take profit of 50% at $34 right exactly where I thought it would try to take out both sides. It's just a slight pull back into a FVG at the moment. It will turn round and go high, I still have my stop loss just below the initial FVG I thought would create an Entry point

29 Jun 2021

Nota

Well If you're still with me we're about to make another Run at this line and I know it's struggling now, but that's the trick, they want you to think this is resistance. nd boom, it'll be like an explosion happened. So Hang Tight.

30 Jun 2021

Nota

It still hasn't broken that swing high but I did take about 20% off profit when it went as high as it could go around 35.55. Now it's coming back nd hitting order blocks and it's looking to change direction especially after putting the fib low as the lsy low that broke the other previous swung high, so I'm looking for another entry to add to my positions. nd I've moved my stop loss bov my original entry.

2 Jul 2021

Dagangan aktif

So I got knocked out but came back in at 32.35 after it wnt above it and came back down to balance but proved to lo longer be doing down. and of course it touches the break of structure line. So I took 70% of my profits there but I'm still waiting for it to hit my take profit line

3 Jul 2021

Dagangan ditutup: hentian tercapai

I meantt topost this earlier but I hd a tp set at an rea where I found a Berish Order Block, 35.4250. I was oping to get to my take profit level but then I saw an area of mitigtionand I knew if it dropped beloew tht then I would most certainly xee the charts move downward, and it hit my stop loss t that area of mitigtion. so I'm out