Total market:
- under-extended, price on index indicating a reversal to upside may be near
Daily:
- SOL has played out a double bottom on the daily chart recieving a wick on the current daily candle indicating bulls stepping in defending support zone
4H:
- Bullish divergence on STOCH on 4h chart
1H:
- Price broke above both the 20 EMA and 50 MA
15 min (entry):
- Price broke out of consolidation with a strong BB break. Entered position upon candle close
Stop loss:
- Placed inside general support area. Below lowest wick & 0.618 fib level of current upwards price movement
Take profit:
- Placed at 0.618 fib level of downward price movement which also happens to be an area of resistance
Trade Management:
- Do not have multliple take profits here. Just playing total market exhaustion to upside
- under-extended, price on index indicating a reversal to upside may be near
Daily:
- SOL has played out a double bottom on the daily chart recieving a wick on the current daily candle indicating bulls stepping in defending support zone
4H:
- Bullish divergence on STOCH on 4h chart
1H:
- Price broke above both the 20 EMA and 50 MA
15 min (entry):
- Price broke out of consolidation with a strong BB break. Entered position upon candle close
Stop loss:
- Placed inside general support area. Below lowest wick & 0.618 fib level of current upwards price movement
Take profit:
- Placed at 0.618 fib level of downward price movement which also happens to be an area of resistance
Trade Management:
- Do not have multliple take profits here. Just playing total market exhaustion to upside
Trade closed manually:
- Closed with loss. Uncertain on total market, BTC breaking lower. Looks like pullback was not as deep as expected