Solana
Panjang

SOLANA Slope RSI at an extreme point

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There has not been a pattern to confirm the bottom yet and it would be unwise to enter a trade right now but we the indicators are telling me that the bottom has been reached. The honey Cypher VWAP is at a very low point, the previous time it reached this level we got a massive move to the upside. At this point we had a double bottom formation which further increased the likelyhood of a strong trend.

My strategy here is to wait for a reversal pattern to surface and enter a trade with a very small stop loss, -2% with a TP1 5% TP2 10% and a trailing at 3% with -3%. You could also enter a trade the moment a reversal brick get's printed but that is less reliable than the patterns.

Link to the bounded slope oscillator.
https://www.tradingview.com/script/gTYXu41z-The-Bounded-Slope-Indicator/

Penafian

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