$SOL/USDT 4h (Binance Futures) Descending channel breakout
Solana has regained 50MA support and looks ready for bullish continuation, probably after a last retest!
Solana Ecosystem is growing a lot lately and definitely here to stay, more information on solana.com
Current Price= 146.557
Buy Entry = 144.673 - 137.327
Take Profit= 170.289 | 201.077 | 232.859
Stop Loss= 121.493
Risk/Reward= 1:1.5 | 1:3.07 | 1:4.69
Expected Profit= +20.73% | +42.56% | +65.09%
Possible Loss= -13.87%
Fib. Retracement= 0.618 | 0.887 | 1.117
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
Solana Ecosystem is growing a lot lately and definitely here to stay, more information on solana.com
Current Price= 146.557
Buy Entry = 144.673 - 137.327
Take Profit= 170.289 | 201.077 | 232.859
Stop Loss= 121.493
Risk/Reward= 1:1.5 | 1:3.07 | 1:4.69
Expected Profit= +20.73% | +42.56% | +65.09%
Possible Loss= -13.87%
Fib. Retracement= 0.618 | 0.887 | 1.117
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
Trade active
All entries filledSolana did not bounce where we expected to but set-up remains valid, let's stick to it!
Note
Almost back to Break-Even (BE)Solana is back outside of the channel and trying to regain 50MA support, future looks brighter now ⛅️
Trade closed: target reached
TP1 reached with +20.73% and +1.5RSolana confirmed the breakout as foreseen, looking good for bullish continuation.
SL updated to 2nd entry (137.327$) to secure the trade and let it run!
Trade closed: target reached
TP2 reached with +42.56% and +3.07RSolana revisited demand zone before pumping again, "updated SL" precisely held by 0.369$ 👌🏼
Last target is surely in play, SL adjusted to 1st entry now (144.673$) so it runs risk free!
Trade closed: target reached
TP3 reached with +65.09% and +4.69RSolana made it to last target in 5 weeks, pretty nice result for the most patient ones!
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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.
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.