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SOLUST trade ideas

Bullish Breakout: Solana's Wedge Reversal and Fibonacci Surge### Trading Strategy Explanation 1. **Falling Wedge**: This pattern is visible from the downward sloping lines containing the price action, ending in converging trendlines. This pattern typically indicates a bullish reversal, suggesting an upcoming uptrend after the breakout. 2. **Elliott Wave Correction Pattern**: The analysis incorporates Elliott Wave theory, specifically focusing on a corrective ABC pattern following a five-wave impulse decline. Point B in the ABC correction falls between the 0.618 and 0.5 Fibonacci retracement levels, which are considered strong levels for potential entries as they often act as reversal points in the price of an asset. 3. **Trade Execution**: - **Entry**: The strategy proposes entering the trade within the range of the 0.618 to 0.5 Fibonacci levels, which are historically significant for price reversals. So the entry for this strategy is right at this moment. - **Stop Loss (SL)**: The SL is set just below the 0.236 Fibonacci level, providing a buffer to accommodate price fluctuations without exiting the trade prematurely. - **Take Profit (TP)**: The initial take profit is set at the 1.618 Fibonacci extension, often referred to as the "golden ratio," a common target in trading for significant price movements. But before this TP, there is another TP level at 139 where we take 50% Profit and move our SL to the entry. This is to prevent any loss so either we walk away with 50% Profit or more. But we cannot loose anything anymore. This TP is set to 139 because thats where there is the order block and that is where there is poin A located from the EW Correction Wave. 4. **Order Blocks and Price Behavior**: - The strategy outlines two order blocks (areas where significant buying or selling occurred previously) expected to either serve as resistance or support. The price is anticipated to either: - Bounce off the first order block, then pull back, or - Break through, retest, and then proceed to the second order block. - A partial profit (50%) is taken at the first order block around $139, and the SL is moved to the entry point to prevent losses, ensuring a risk-free trade moving forward as mentioned before. So either way we would walk away in Profit. 5. **Bearish Trend Line and Price Retest**: - After breaking the bearish trend line, the strategy anticipates a possible retest of this line. A successful retest and bounce off this line would further confirm the bullish outlook and continuation of the uptrend toward the equilibrium or higher resistance levels. ### Summary This trading idea focuses on leveraging technical patterns and Fibonacci levels to set strategic entry and exit points, mitigating risk while aiming for potential high reward. The detailed use of Elliott Wave for trend analysis combined with the Fibonacci retracement for pinpointing entry and stop-loss levels, and taking profits at key Fibonacci extensions, makes this strategy robust for traders looking for precise market entry and exit points.
Long
by Uptrick
SOL Waiting For The BEST Entry: Bullish TriangleSOL has been trading inside this triangle pattern since practically forever. I'm not calling for a bearish move here, I'm only sharing my view from where I will enter if we continue to go down. The bottom support has been holding on 4 seperate ocassions, my assumption is that it requires a lot of power to fall through, since bulls will be buying from there. Ideally, SOL will move back up to the top resistance, or even better break out of it.
Long
by FieryTrading
5
SOL Near Term Retest Move !Sol dropping recent days. But probably price reached to support with $132 for a while. Price has lost mid term white uptrend channel for the first time past days. Price didn't close any days under this white uptrend channel for almost 7-8 months. But now it failed there as daily close. That's why currently i believe that retest move will come with upward momentum and then price will continue to downward direction because of it lost its important uptrend channel. Retest zone points to $148.5 - $150 area. We can see this region in few days.
Long
by huecoshunter
1
Solana | Bearish Impulse In the MakingSolana has been up for more than 5.5 months. That is, it hit a major multi-year high and has been consolidating for this long. But all is no good though. ➖ The consolidation has been bearish; lower highs. ➖ Trading volume reveals a bearish bias as well with the drop early August producing the highest volume since March. ➖ Today marks the sixth day of consecutive bearish action... Something is off! When we have continued bearish momentum building up, slowly but surely, this can end bad, when the result of the consolidation phase is expressed on the chart. This type of market action, what we are seeing now and what we have been seeing for the last five months, will lead to one final, super strong "bearish impulse." The impulse is when the market force joins a move. The bad thing about the impulse is not the lower low that it will produce, but the fact that it tends to surprise and it can go for weeks, several weeks, at a time. This is a friendly reminder; find your place. 👉 You can either be out or SHORT; if you are going to hold, just be conscious that soon the market will see major red. I am here as your shield, telling you now about future events. The charts are our guides, financial hieroglyphs; the technological prophet. Namaste.
Short
by AlanSantana
SOL / SOLANA🔍 SOL/USDT Analysis: 15-Minute Timeframe 📉 The SOL/USDT chart on a 15-minute timeframe highlights significant upcoming times where price movements may present trading opportunities. For short-term, intraday, or scalping trades, these signals can be crucial. • August 30, 2024, 22:15, August 31, 2024, 08:45 - Red Lines: These times mark potential local peaks. Traders might consider these as moments to take profits or reduce exposure, as the price could encounter resistance or a downturn. • August 30, 2024, 13:15, August 31, 2024, 04:00 - Green Lines: These times indicate potential local lows, providing favorable conditions for accumulating SOL or entering long positions. Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).
by trushkovskiy
Is Solana on the Brink of a Major Move?Yello, Paradisers! Have you noticed how #SOLUSDT's recent price action might be signaling a larger move ahead? Let’s dive in. 💎#Solana since its 61.8% retracement towards the recent highs of $163.50 has faced consistent downward pressure. The current price action is showing signs of congestion, with strong resistance forming between the $148 and $151 levels. This area also coincides with the dynamic 4-hour EMA-200, reinforcing its significance. Since August 11th, Solana has tested this resistance zone four times, each time resulting in an immediate rejection. 💎As long as Solana struggles to break above this formidable resistance region, the upside potential remains limited, and we may see lower levels coming into play. 💎In the coming hours, Solana is likely to move towards the $138 support level. While this support is relatively strong, the bulls’ repeated failure to surpass $151 could put this level under pressure. Should this support be breached, we could see Solana dipping further to $135.20 initially, followed by more substantial support in the $131 to $127 range. This region represents a bullish order block and could trigger a reaction from the bulls. 💎On the flip side, if Solana can convincingly reclaim the $151 level, we could see a bullish continuation with the potential for significant upside. Paradisers, staying patient and disciplined is key. Only the highest probability setups should be on your radar if you’re aiming for long-term success in this volatile market. MyCryptoParadise iFeel the success🌴
Short
by MyCryptoParadise_Jack
3
Solana still makes buyers happy !In this case I have to say " solana is one of most powerfull altcoins in crypto " so always we have good news about this project Like ETh . Btc. Xrp , Bnb Trx its better to buy them HOLD them to Higher high then risk free it but in this case solana can make somthing unbelievable . now solana founding step to stable coins that is good news for coin Also in tecnical chart we need more power to break this Green line so need to visit last FvG which is 6% upper than market price so We can buy solana with 50x levrage Cross orders only accepted with confirmed Sl and Tp Market price : 145.5 $ @TradeWithMky target Price : 152 $
Long
by TradeWithMky