Beautiful Wednesday Morning, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
SOL is still inside the Descending Channel, and could eventually do...
A. With a potential Double Bottom, push up to retest its 21D MA. If it breaks the Red Resistance Trend Line, SOL could move towards the Red Horizontal Bar above and further towards the 38.2% Fib @ $149.
B. Get pushed back down by the Red Resistance Trend Line towards the 61.8% Fib below at $74.33. Further dipping could bring SOL down to the 100% Fib at $44.88.
C. Break out of the Red Resistance Trend Line and move sideways in an accumulation phase.
MACD: Bullish Divergence
Stoch RSI (1Wk TF): Huge upside potential!
What's your strategy with each type of scenario? Let me know, write your comments below.
In any case, just remember to always place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
SOL is still inside the Descending Channel, and could eventually do...
A. With a potential Double Bottom, push up to retest its 21D MA. If it breaks the Red Resistance Trend Line, SOL could move towards the Red Horizontal Bar above and further towards the 38.2% Fib @ $149.
B. Get pushed back down by the Red Resistance Trend Line towards the 61.8% Fib below at $74.33. Further dipping could bring SOL down to the 100% Fib at $44.88.
C. Break out of the Red Resistance Trend Line and move sideways in an accumulation phase.
MACD: Bullish Divergence
Stoch RSI (1Wk TF): Huge upside potential!
What's your strategy with each type of scenario? Let me know, write your comments below.
In any case, just remember to always place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Comment:
SOL ranging, and trading below its 21MA. SOL would more than likely push up past its 21MA and meet up with its 50MA.
