Expectation: up
Long-term perspective: Sellside Liquidity Hunt is done. Price rejected Monday Low which builds the foundation to look for Buyside Liquidity Level
Long-term perspective: Sellside Liquidity Hunt is done. Price rejected Monday Low which builds the foundation to look for Buyside Liquidity Level
Note
Mid-term perspective:
The market gives us a Mondayrange framework to play with. Question is how far solana will retrace back. Is it going to retrace into a discount area (0,618 fib) or will it stop around the pivotal weekly level?
Either one takes a bit more risk and enters already around the weekly pivot or waits for a deeper retracement followed by bullish market structure on the low timeframes.
In a perfect world Asia forms a consolidation followed by a london session Judas Swing from where I am looking to enter longs.
Note
Assuming the Trade bias is correct even a long from current lvl gives a slightly positive 1:1 Risk/reward.
The deeper the retrace the better R/R.
Absolute Invalidation is a break below the current "swing" low.
Note
Sol chased variant two, the deeper retrace into the discount zone (below 0,5fib lvl of upleg that led to market structurebreak/higher high)
Note
SOL Update Friday:
Solana chopped more around but did not invalidate my Idea. Price made a clean bullish impulse on thursday and is building the base for a higher low now. I am still assuming that price will squeeze to the upside. My Invalidation is the same.
Lowterm perspective shows a new created POI which should hold as support if my bias is correct for the day.
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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.