SOL Trade set up
Weekly: long term analysis
SOLUSDT was one of the top gainers of the last altcoin bull run. After more than 95% deep correction during the bear market, SOL has almost regained its ATH in a strong impulsive upward movement from last October to last March. Since then SOL is consolidating within a perfectly defined range [120$ - 190$].
On a weekly time frame we can see the volatility decreasing and bollinger bands are now narrowed and totally flat. This is a perfect setup for a trade entry.
Strategy
Buy signal will be given from a daily close above the resistance line (neckline of the inverted H&S) around the 10$ mark.
Invalidation
Mental Stop: just below the last weekly swing low. This setup proposes a nice Risk Reward
If prices retrace to this stop level we will wait for the weekly closing price then set a Stop loss ¼ or Risk below the weekly close price.
Risk = Distance between Mental stop and entry point.
SOLUSDT was one of the top gainers of the last altcoin bull run. After more than 95% deep correction during the bear market, SOL has almost regained its ATH in a strong impulsive upward movement from last October to last March. Since then SOL is consolidating within a perfectly defined range [120$ - 190$]. On a weekly time frame we can see the volatility decreasing and bollinger bands are now narrowed and totally flat. This is a perfect setup for a trade entry.
Strategy
Buy signal will be given from a daily close above the resistance line (neckline of the inverted H&S) around the 10$ mark.
- Objective 1: ATH at 250$ ( +25%)
- Objective 2: Small Flag pole target at 500$ zone (+150%)
- Objective 3: Big flag pole extension and under Cup & Handle target around 1600$ (+700%)
Invalidation
Mental Stop: just below the last weekly swing low. This setup proposes a nice Risk Reward
If prices retrace to this stop level we will wait for the weekly closing price then set a Stop loss ¼ or Risk below the weekly close price.
Risk = Distance between Mental stop and entry point.
Nota
Correction of the buy signal
Buy signal will be given from a daily close above the resistance line around the 200$ mark (removing the extra words after that which are copy/paste error)
Dagangan aktif
Buy signal was given yesterday. Let's follow the trade closely.Nota
Objective 1 ✅ was reached on the 21st on November.
Following our trading plan we took some profits with 25% gains on this first level. Remaining portion is targeting the next objectives 🚀
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.