$SOL When it bounces back to the old sell zone, I'll place a short limit order there instead of chasing it
⚡ 🔴 SHORT $SOL | SCALP M5 12/11 | R:R up to 1:1.1 | Limit order
This is a short-term trade on the 5-minute timeframe. Price is currently at 84.53 USDT. I won't sell here; I'll place a limit order above, and if the price reaches it, the order will fill. If it doesn't, so be it.
🔹 $SOL | 84.53 USDT | SHORT (expecting the price to fall)
📊 Scalp trade. Reason: price is moving back up to a bearish Order Block on M5, where selling pressure previously pushed the price down. The H4 trend is bearish, and M15 is bearish too.
🟢 Entry: 85.32 - 85.68
🔴 SL: 88.57 (+3.6%), based on the average daily range (ADR)
🎯 TP1: 82.07 (-4.0%) | R:R 1:1.1
⏰ Valid until: 03:32 12/11 (UTC+7) if not filled
✅ If it fills, just hold until TP or SL; don't close it because time is up (estimated ~17 hours to TP).
✅ Filtered for: same direction as the main H4 trend; the latest H1/H4/D1 candles show no strong momentum against the trade.
⚠️ My biggest concern: this trade is against the D1 trend, so I'll only enter with a small position size.
A little extra wave counting for fun (just for reference): on H1, price is retracing in wave 4 of a downward move. If wave 4 doesn't overlap with wave 1, wave 5 could fall to around 80.67 (-4.6%).
🔗 And don't forget the big brother. The 90-day correlation with BTC is 0.85, with a beta of 1.2, meaning SOL is heavily dependent on BTC. If BTC suddenly jumps, this trade could easily go wrong.
🏦 US spot ETF flows (9 funds) aren't looking good either: assets stand at $1.25 billion, with net outflows of $155 million over the past month (-12.4% of assets). On 06/11, there were net outflows of $25 million, making it two consecutive sessions of outflows.
❌ Skip the trade if:
- Price reaches TP1 at 82.07 before the limit order fills.
- Price reaches SL at 88.57.
- It's past 03:32 12/11 and the order hasn't filled.
🛡 Here's how I'm calculating the risk: with an account of 1,000 USDT, 0.5% risk = 5 USDT. The SL is 3.59% from the midpoint of the entry zone, so the position value is about 139 USDT, excluding fees and slippage. Don't use high leverage; going big on a scalp just makes life harder for yourself.
Posted at 02:22 12/11 (UTC+7). This is a conditional plan and hasn't been tested against historical data. I'm just sharing my perspective, not investment advice.
Do you think it's worth taking a small position despite going against D1, or should we stay out and wait for BTC to show a clear direction?
#SOL #BTC #Scalping #Layer1 #AxionNews
⚡ 🔴 SHORT $SOL | SCALP M5 12/11 | R:R up to 1:1.1 | Limit order
This is a short-term trade on the 5-minute timeframe. Price is currently at 84.53 USDT. I won't sell here; I'll place a limit order above, and if the price reaches it, the order will fill. If it doesn't, so be it.
🔹 $SOL | 84.53 USDT | SHORT (expecting the price to fall)
📊 Scalp trade. Reason: price is moving back up to a bearish Order Block on M5, where selling pressure previously pushed the price down. The H4 trend is bearish, and M15 is bearish too.
🟢 Entry: 85.32 - 85.68
🔴 SL: 88.57 (+3.6%), based on the average daily range (ADR)
🎯 TP1: 82.07 (-4.0%) | R:R 1:1.1
⏰ Valid until: 03:32 12/11 (UTC+7) if not filled
✅ If it fills, just hold until TP or SL; don't close it because time is up (estimated ~17 hours to TP).
✅ Filtered for: same direction as the main H4 trend; the latest H1/H4/D1 candles show no strong momentum against the trade.
⚠️ My biggest concern: this trade is against the D1 trend, so I'll only enter with a small position size.
A little extra wave counting for fun (just for reference): on H1, price is retracing in wave 4 of a downward move. If wave 4 doesn't overlap with wave 1, wave 5 could fall to around 80.67 (-4.6%).
🔗 And don't forget the big brother. The 90-day correlation with BTC is 0.85, with a beta of 1.2, meaning SOL is heavily dependent on BTC. If BTC suddenly jumps, this trade could easily go wrong.
🏦 US spot ETF flows (9 funds) aren't looking good either: assets stand at $1.25 billion, with net outflows of $155 million over the past month (-12.4% of assets). On 06/11, there were net outflows of $25 million, making it two consecutive sessions of outflows.
❌ Skip the trade if:
- Price reaches TP1 at 82.07 before the limit order fills.
- Price reaches SL at 88.57.
- It's past 03:32 12/11 and the order hasn't filled.
🛡 Here's how I'm calculating the risk: with an account of 1,000 USDT, 0.5% risk = 5 USDT. The SL is 3.59% from the midpoint of the entry zone, so the position value is about 139 USDT, excluding fees and slippage. Don't use high leverage; going big on a scalp just makes life harder for yourself.
Posted at 02:22 12/11 (UTC+7). This is a conditional plan and hasn't been tested against historical data. I'm just sharing my perspective, not investment advice.
Do you think it's worth taking a small position despite going against D1, or should we stay out and wait for BTC to show a clear direction?
#SOL #BTC #Scalping #Layer1 #AxionNews
