Morning Update: Solana still looking strong towards the upside
Solana has been consolidating since Saturday 1/21 high into $26.55. I have posted an alternative wave c of 2 FLAT. We appear to be moving impulsively on the smaller timeframes however, this is most likely part of the (c) of c subdivision. Obviously if we breach $26.55 we may be ready to take off.
This is precisely why I said its risky to sell out of entire positions as wave 2's can be shallow or deep. However the more we consolidate in this area the higher the probability this retrace will be shallow by virtue of time.
Things may be about to get very exciting in Solana ...Once we breach $26.55 I'll be able to dial in our targets on the upside. Suffice to say, the next time we move above $26.55 we will get into the 30's pretty quickly and end up for our primary wave 3 in the 40's.
Let's see what clues we get throughout the remainder of the week.
Best to all,
Chris
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This is precisely why I said its risky to sell out of entire positions as wave 2's can be shallow or deep. However the more we consolidate in this area the higher the probability this retrace will be shallow by virtue of time.
Things may be about to get very exciting in Solana ...Once we breach $26.55 I'll be able to dial in our targets on the upside. Suffice to say, the next time we move above $26.55 we will get into the 30's pretty quickly and end up for our primary wave 3 in the 40's.
Let's see what clues we get throughout the remainder of the week.
Best to all,
Chris
IMPORTANT NOTE:
SOMETIME BETWEEN MID AND END OF FEBRUARY I WILL ONLY BE POSTING ONCE PER WEEK HERE ON TRADING VIEW. I WILL ONLY BE DOING WEEKEND UPDATES. THE MORNING, EVENING AND SPECIAL UPDATES YOU HAVE RECEIVED IN THE PAST WILL NO LONGER HAPPEN. AS I GET CLOSER TO CHANGING MY POSTING SCHEDULE ON TRADINGVIEW.COM I WILL UPDATE MY FOLLOWERS HERE. CHECK MY PROFILE AREA FOR DETAILS.
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