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Solusdt

SOLUSDT → combining several patternhello guys... solana formed an upside-down head and shoulder pattern on the broken trendline! on the other hand, we can see a similar cup and maybe a handle pattern! on the other side, this coin made a top normal head and shoulders on a lower time frame! so I suppose this coin will touch the 94$ area 📉 and then will be prepared for another upward movement to 129$!📈 ___________________________ 💻📞☎️ always do your research. 💌📫📃 If you have any questions, you can write them in the comments below, and I will answer them. 📊📌❤️And please don't forget to support this idea with your likes and comment
by melikatrader94
5
Long Position on SOLUSDTAnalysis: Bullish Divergence in RSI: A bullish divergence is observed in the Relative Strength Index (RSI), indicating potential upward momentum. Stop Loss Protection: The Point of Control (POC) from the volume profile can be used to protect the stop loss, providing a key support level. Take Profit Levels: TP1: Set the first take-profit level between the 23% and 38% Fibonacci retracement levels. TP2: Place the second take-profit level between the 50% and 61% Fibonacci retracement levels. TP3: Target the third take-profit level at the 78% Fibonacci retracement level. Use of Gray Rectangles: Gray rectangles, derived from open interest and representing areas with the highest volume, are used to set the take-profit levels. Trade Plan: Entry: Consider entering a long position based on the bullish divergence observed in the RSI. Stop Loss: Protect the trade with a stop-loss order placed below the Point of Control (POC) from the volume profile. Take Profit: TP1: Close a portion of the position at the first take-profit level between the 23% and 38% Fibonacci retracement levels. TP2: Take additional profits at the second take-profit level between the 50% and 61% Fibonacci retracement levels. TP3: Target the final portion of the position at the 78% Fibonacci retracement level. Risk Management: Ensure proper risk management by allocating an appropriate portion of your capital to this trade and adjusting position size accordingly. Note: Always conduct thorough analysis and consider using additional technical indicators or confirmatory signals before executing any trades. Risk management is crucial to protect your capital in volatile markets.
Long
by ispatialresources