beginner question - if i am long term holder of sol, should i use stop loss?
Post
Asad Ullah Khan Junaid
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Bullish$SOL this area could be of interest. This area hold 2 significance.
First on our higher time frame analysis, this was a HRLR area, price has moved above it once, price will face difficulty in crossing this area again. So more likely in easy terms this area could act as support.
Secondly we have a clear fvg at 4H chart and also wick of the advance order block is overlapping that fvg. If price remain near 147 and 4H candle body remain above 147. We can go long here.
Entry I will be using is
Entry at 149.72 (exactly at mid of advance order block)
Stoploss 146.61 but you can add more room for price, am just sticking to my rule of 2% stoploss.
As for profit we can aim for 161 then 170 and all the way 179.
I told you guys yesterday to not to chase price, price always come back to fill the ineffeciencies. And we as a retail trader, we follow the footsteps of big fishes. We just need a piece of pie to survive in these markets.
Lastly, for god sake don't trade without stoploss. Stoplosses are there for a reason.
#MarketRebound
First on our higher time frame analysis, this was a HRLR area, price has moved above it once, price will face difficulty in crossing this area again. So more likely in easy terms this area could act as support.
Secondly we have a clear fvg at 4H chart and also wick of the advance order block is overlapping that fvg. If price remain near 147 and 4H candle body remain above 147. We can go long here.
Entry I will be using is
Entry at 149.72 (exactly at mid of advance order block)
Stoploss 146.61 but you can add more room for price, am just sticking to my rule of 2% stoploss.
As for profit we can aim for 161 then 170 and all the way 179.
I told you guys yesterday to not to chase price, price always come back to fill the ineffeciencies. And we as a retail trader, we follow the footsteps of big fishes. We just need a piece of pie to survive in these markets.
Lastly, for god sake don't trade without stoploss. Stoplosses are there for a reason.
#MarketRebound
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