12h time frame
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SOL is creating a potential cup and handle pattern, which is a continuation structure. The handle part hasn't been completed until breaking above 65.5, but we can set up a trading plan here that provides nice risk to reward ratio around 2.7.
TP: 79.8
SL: 58.79
12h time frame
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SOL creating a rising channel or could be called as bearish flag, it just hit the channel top and got rejection. Also, there were two times SOL hit the upper uptrend line, and both got further dump. Both dumps satisfied 0.707~0.786 Fibonacci Retracement, so we can set target at the potential Fibonacci level around 20.5~23, this trading provides...
1h time frame
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According to our previous analysis about SOL, this Head and Shoulders has been providing lots momentum to pump.
Here is the best timing to set protective stop to avoid unrealized profit gone.
Adjust SL from 18 to 22 or 20
Also, if you remain partial positions, I set two higher targets at 25.1 and 28.3, which are the next resistance...
1h time frame
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SOL creating a potential bottom HS. Currently, getting support at 19, However, right shoulder hasn't formed yet, so we might see lower low of RS. Neckline of this HS is obvious at 20.5
Once SOL break neckline on upside, there are two targets as below.
TP: 21.8~22.5 / 23.78
4h time frame
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SOL retesting the falling wedge(channel).
Also go into the potential support zone, if it supports well, we can set fib 1.618 as target.
TP: 39
SL: 18.12
- accumulation of 11 days
- no buyer's volume
- trend support
- on the third touch i am opening short position on the first leverage.
- on the fourth touch i am opening short position on the fifth leverage.
- liquidity under $13 level should be collected
Please write any advice or suggestions.
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