Despite the broader long-term uptrend in Solana, yesterday I was considering a risky short position on one of the altcoins and had already defined the triggers. Fortunately, the short trigger was broken while I wasn’t monitoring the chart, so no position was opened.
The positive development is that we saw a fake breakdown of the 197.36 support zone. After collecting liquidity below this level, Solana initiated a strong bullish move.
I’ve marked the long trigger at 206.24. However, for an early entry، if I spot a market structure shift in the pullback zone, I’ll scale in with a partial position. Then, if the main level breaks, I’ll add more volume to the trade.
I will also check my entries with the SOLBTC chart for more confirmation
The positive development is that we saw a fake breakdown of the 197.36 support zone. After collecting liquidity below this level, Solana initiated a strong bullish move.
I’ve marked the long trigger at 206.24. However, for an early entry، if I spot a market structure shift in the pullback zone, I’ll scale in with a partial position. Then, if the main level breaks, I’ll add more volume to the trade.
I will also check my entries with the SOLBTC chart for more confirmation
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.