$SOL Kan represents water, with Kan above and Kan below. Pits above and below—in plain English: still in the pit, so don’t rush to climb out. The daily chart is still in oversold territory. Yesterday’s low was 82.13, and it closed at 83.23. This morning it’s been grinding between 82.96 and 83.81, with the current price around 83.20. I wouldn’t take this bounce as a trend reversal.
First, watch yesterday’s high at 85.81; above that is the day-before’s high at 86.79, and above that is this week’s previous high at 88.41. I’d rather wait for a rebound into 85.8–88.4 before taking a small short. Don’t chase it below 81.27.
Entry: 85.81 / 86.79 / 88.41 (scale in at each level once price reaches the zone; no touch, no trade)
Stop loss: 94.80 (with a buffer beyond the near-term structure)
Take profit 1: 83.23
Take profit 2: 81.27
Take profit 3: 78.00
At the first take-profit level, close half the position and move the stop loss to breakeven. If it doesn’t rise to the entry zone, keep waiting. If the daily chart closes above 94.80, I won’t short it.
Still in the pit—do you think it’ll return to 85.8–88.4 first, or test 81.27 again?
Follow me for updates. Personal opinion, not investment advice.
First, watch yesterday’s high at 85.81; above that is the day-before’s high at 86.79, and above that is this week’s previous high at 88.41. I’d rather wait for a rebound into 85.8–88.4 before taking a small short. Don’t chase it below 81.27.
Entry: 85.81 / 86.79 / 88.41 (scale in at each level once price reaches the zone; no touch, no trade)
Stop loss: 94.80 (with a buffer beyond the near-term structure)
Take profit 1: 83.23
Take profit 2: 81.27
Take profit 3: 78.00
At the first take-profit level, close half the position and move the stop loss to breakeven. If it doesn’t rise to the entry zone, keep waiting. If the daily chart closes above 94.80, I won’t short it.
Still in the pit—do you think it’ll return to 85.8–88.4 first, or test 81.27 again?
Follow me for updates. Personal opinion, not investment advice.
