$SOL/USDT 4h (Binance Futures) Parabolic curve under resistance
Updated
Solana has risen strongly after breaking out of the wedge and is likely to retrace down to it in the coming days before resuming bullish.
Current Price= 78.955
Sell Entry = 80.493 - 84.673
Take Profit= 73.545 | 67.509 | 1.820
Stop Loss= 90.107
Risk/Reward= 1:1.2 | 1:2 | 1:3.12
Expected Profit= +21.88% | +36.50% | +56.94%
Possible Loss= -18.22%
Fib. Retracement= 0.382 | 0.618 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Current Price= 78.955
Sell Entry = 80.493 - 84.673
Take Profit= 73.545 | 67.509 | 1.820
Stop Loss= 90.107
Risk/Reward= 1:1.2 | 1:2 | 1:3.12
Expected Profit= +21.88% | +36.50% | +56.94%
Possible Loss= -18.22%
Fib. Retracement= 0.382 | 0.618 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Trade active
First entry filledSolana finally went back up for supply zone after going down -13.51% from call price.
Note
Up to +19.52% (2x) profitWill Solana let us nail a short at last? We'll find out sooner than later!
Revisiting 50MA is very probably in play so we are not taking profit yet, but if you want to secure some, be our guest.
Trade closed: target reached
TP2 reached with +36.50% (2x) and +2RSolana is retracing down as planned after retesting broken ascending Trend-Line (TL)
Now 50MA (grey) is lost, 100EMA (orange) is very likely to be revisited, then probably last target as well.
SL adjusted slightly above lowest entry price (80.503$) in any case and let it go!
Trade closed manually
Remaining position closed at BESolana bounced back on 100EMA and went for a new ATH, what a beast!
PC bot closed at Break-Even, if you stuck to original SL then you have been stopped out by now.
Seems to be on top of the trend so we'll wait another break-down to short it again if clear enough.
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