Everyone, I’m about to open a large long position on $SOL .
Take profit: 98.16
Stop loss: 93.8086 👇
You may be wondering the obvious question: why am I going long here?
The latest 15-minute candle closed at 94.66. The 20-day daily range is 89.8 to 109.18,
and the current price is only at the 25.1% percentile. Liquidity is relatively thin at this level, while there’s a sizable gap above.
It’s been moving sideways for seven days without breaking out, which suggests the positions in this market have been changing hands repeatedly, while the gap above has never really been filled.
Overall, it’s moved just -0.16% over the past seven days—sideways, but holding up.
My take profit is 98.16, up +3.70% from the current price; my stop loss is 93.8086, down -0.90% from the current price.
The risk-reward ratio is 4.11. Both my take profit and stop loss are within the average daily volatility. The daily ATR14 is 4.51%, and I won’t break this positioning rule.
My view comes first: today isn’t a reversal, it’s rotation. $BNB is up +2.321% over 24 hours,
and $BTC is up +2.905%. The big names are gradually moving higher, but this one is still stuck at the 25.1% percentile and hasn’t followed along.
I’m willing to take a bet on this divergence.
Honestly, I don’t understand why it’s been flat for seven days, but the downside is small and the setup is clear, so I’m willing to enter. Which do you think it’ll test first—the upper end of the range, or a further drop? Let’s discuss in the comments.
#SOL #BNB #Crypto
The above is a record of my personal trading system and observations of market data; it does not constitute investment advice.
Take profit: 98.16
Stop loss: 93.8086 👇
You may be wondering the obvious question: why am I going long here?
The latest 15-minute candle closed at 94.66. The 20-day daily range is 89.8 to 109.18,
and the current price is only at the 25.1% percentile. Liquidity is relatively thin at this level, while there’s a sizable gap above.
It’s been moving sideways for seven days without breaking out, which suggests the positions in this market have been changing hands repeatedly, while the gap above has never really been filled.
Overall, it’s moved just -0.16% over the past seven days—sideways, but holding up.
My take profit is 98.16, up +3.70% from the current price; my stop loss is 93.8086, down -0.90% from the current price.
The risk-reward ratio is 4.11. Both my take profit and stop loss are within the average daily volatility. The daily ATR14 is 4.51%, and I won’t break this positioning rule.
My view comes first: today isn’t a reversal, it’s rotation. $BNB is up +2.321% over 24 hours,
and $BTC is up +2.905%. The big names are gradually moving higher, but this one is still stuck at the 25.1% percentile and hasn’t followed along.
I’m willing to take a bet on this divergence.
Honestly, I don’t understand why it’s been flat for seven days, but the downside is small and the setup is clear, so I’m willing to enter. Which do you think it’ll test first—the upper end of the range, or a further drop? Let’s discuss in the comments.
#SOL #BNB #Crypto
The above is a record of my personal trading system and observations of market data; it does not constitute investment advice.
