SOL/USDT is overall in a Bearish trend over 1 Day time frame. However, in 1 Hr time frame it tends to hint at sideways trend i.e. not very bullish nor Bearish. Therefore, Using Support and resistance line we can take trade in both directions.
Support and Resistance Levels are defined on the chart.
Therefore, for SHORT trade, one can enter the trade just below S2 level (through Sell Stop Order) to take profit at either S3 or at pre-calculated T/P value as per Risk/Reward Ratio.
Moreover, for LONG Trade, one can enter the trade just above R2 level (through Buy Stop Order) to take profit at either R3 or at pre-calculated T/P value as per Risk/Reward Ratio.
Support and Resistance Levels are defined on the chart.
Therefore, for SHORT trade, one can enter the trade just below S2 level (through Sell Stop Order) to take profit at either S3 or at pre-calculated T/P value as per Risk/Reward Ratio.
Moreover, for LONG Trade, one can enter the trade just above R2 level (through Buy Stop Order) to take profit at either R3 or at pre-calculated T/P value as per Risk/Reward Ratio.