SOL │ 10.10.2023
Updated
SOLUSDT.P In general, we have a favorable situation for a strong level breakout, as only stop orders of other market participants are sitting below the level. The strong impulse will likely come from them. There are no other nearby levels that could halt the movement, with the closest one being at 221.118.
In such situations, you NEVER know WHEN the breakout will occur, but you can be confident that it will be powerful. However, I never forget that this is the crypto market, where anything can happen, which is why it's essential to trade with stop orders.
Signals for level breakout
- bar closure near the level;
- bar closure near its high/low;
- close retest of the level;
- accumulation of energy for level breakout;
- no response to a false level breakout;
- a good approach to the level;
- consolidation near the level;
- decrease in trading volumes before the level;
- a clear zone beyond the level;
- the instrument is being held from falling/rising in price;
- there is a reserve of calculated ATR;
- there is a reserve of technical ATR.
Trade Parameters
- Open: 21.79822;
- Take profit:
- 21.47146;
- 21.36254;
- 21.25362;
- Take profit:
Trade active
Trade closed: stop reached
The level has been 'fogged,' so there is no clear price at which a deal can be made.Note
Today, all the targets were reached throughout the day, but nevertheless, I did not have a clear entry point into the market for myself.I'm glad if you were able to profit from this idea!
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