$SOL/USDT 1h (Binance Futures) Rising wedge near breakdown SHORT
Solana has bounced hard an could retrace down here.
If you feel like shorting, this is usually a bearish pattern...
Also, it could break bullish but we rather have a hedge running!
Current Price= 16.6429
Sell Entry= 16.6170 - 17.0174
Take Profit= 15.4328 | 13.9062 | 12.4232
Stop Loss= 18.2016
Risk/Reward= 1:1 | 1:2.1 | 1:3.17
Expected Profit= +16.46% | +34.62% | +52.26%
Possible Loss= -16.46%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 5 days
If you feel like shorting, this is usually a bearish pattern...
Also, it could break bullish but we rather have a hedge running!
Current Price= 16.6429
Sell Entry= 16.6170 - 17.0174
Take Profit= 15.4328 | 13.9062 | 12.4232
Stop Loss= 18.2016
Risk/Reward= 1:1 | 1:2.1 | 1:3.17
Expected Profit= +16.46% | +34.62% | +52.26%
Possible Loss= -16.46%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 5 days
Comment:
SL almost hit then reversal
Solana finally broke-down, seems like we had some luck not to have been stop hunted.
Let's see if we can reach first target at least now, that'd be great!
Solana finally broke-down, seems like we had some luck not to have been stop hunted.
Let's see if we can reach first target at least now, that'd be great!
Comment:
You probably saw that Binance launched Staking with up to 43.79% APY
That is a very high Annual Percentage Yield for Solana and could be worth it!
But I think right now price is too high to buy for long-term, also remember that short targets are possible uptrend support.
So you could start accumulating progressively if we managed to reach them, especially around 14$...
www.binance.com/en/s...43d8b3a3800fee3c1f84
That is a very high Annual Percentage Yield for Solana and could be worth it!
But I think right now price is too high to buy for long-term, also remember that short targets are possible uptrend support.
So you could start accumulating progressively if we managed to reach them, especially around 14$...
www.binance.com/en/s...43d8b3a3800fee3c1f84
Comment:
TP1 missed by 0.0734$
That was very close too, I recommend to take some partial profit manually here, just in case Solana bounces.
That was very close too, I recommend to take some partial profit manually here, just in case Solana bounces.
Trade closed: target reached:
TP1 reached with +16.46% (2x) and 1R
Finally Solana reaching first target, I'm taking most profit here and moved SL at 2nd entry!
Finally Solana reaching first target, I'm taking most profit here and moved SL at 2nd entry!
Trade closed: target reached:
TP2 reached with +34.62% (2x) and 2.1R
Solana retraced down further, last target is till in play but I am progressively buying back in Spot on each dip.
Solana retraced down further, last target is till in play but I am progressively buying back in Spot on each dip.
Trade closed: target reached:
TP3 would have been reached with +52.26% (2x) and +3.17R
Unfortunately as you saw, we tried to long back Solana too early and were not shorting it anymore.
Seems like I should have waited for that last target before considering it.
Or the best way would be using hedge mode so you can have position running in both sides, but @PredictionCoins bot does not allow that yet!
Now, I'll keep an eye on that descending channel since a break-out would propel price higher!
Unfortunately as you saw, we tried to long back Solana too early and were not shorting it anymore.
Seems like I should have waited for that last target before considering it.
Or the best way would be using hedge mode so you can have position running in both sides, but @PredictionCoins bot does not allow that yet!
Now, I'll keep an eye on that descending channel since a break-out would propel price higher!
Solana kept growing, this was unlikely and it could still be a fake-out, but market looks bullish.