Solana ProjectionsTraders,
As projected Solana did break to the upside of our area of confluence which was the intersection of our 50 day, 200 day, and descending TL (black). As you know, I had been waiting for this break before making an entry. The confirmation candle came but the move was too quick for my liking. I am not about chasing. So, here's what I am now waiting for: Solana tags resistance at HKEX:25 - HKEX:26 , Solana then pulls back for a classic retest of previous resistance (now support), and then, Solana takes off towards our target area. All of this should take quite a few weeks/months.
I will be looking to enter at either a retest of our 50 day/200 day or descending TL. Stay tuned.
Stew
SOLUSDC
Solana BreakoutTraders,
As expected, Solana has now broken above the neckline of our inverse H&S, the 50 day, and the 200. This is a great sign for sure but still, caution is warranted until two things happen: the expected pullback on BTC / BTC.D occurs, we understand how altcoins will respond to Bitcoin's pullback.
In Solana's case, I can see it now coming back to retest those three previous resistance areas as support. This may be one area where I look for entry.
Stew
SOL to $30Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. Don't be just a taker, be a giver! 👍🏻
Solana broke out of this triangle 📐 to the upside so there is chance for run to 30.30 and even higher. I traded the initial breakout and I wouldn't chase the market now. One can set BUY LIMIT order to previous range high @ 23.63 to catch🎣 the potential pullback.
ENTRY : local high @ 23.63
STOPLOSS (SL) : local low @ 22.92
TARGET : height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 30.30
REWARD RISK RATIO (RRR) : 9.3
INVALIDATION : when SL level hit
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!