Hi traders! , Analyzing SOL/USD on the 30-minute timeframe, price is currently moving within a defined descending channel, respecting lower highs and lower lows. A recent rejection from the channel top suggests continuation to the downside.
🔹 Entry: 150.09
🔹 Take Profit (TP): 145.47
🔹 Stop Loss (SL): 154.51
The price failed to hold above the 200 EMA and has resumed its downward trajectory. The RSI shows a recent bounce from overbought levels, supporting the bearish momentum. This short setup offers a favorable risk-reward ratio within the context of the broader downtrend.
A clean rejection at resistance and confirmation of the trendline add confluence to this trade idea. Keep an eye on the 145.47 zone, where buyers may attempt to defend the support.
⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for their own decisions and risk management.
🔹 Entry: 150.09
🔹 Take Profit (TP): 145.47
🔹 Stop Loss (SL): 154.51
The price failed to hold above the 200 EMA and has resumed its downward trajectory. The RSI shows a recent bounce from overbought levels, supporting the bearish momentum. This short setup offers a favorable risk-reward ratio within the context of the broader downtrend.
A clean rejection at resistance and confirmation of the trendline add confluence to this trade idea. Keep an eye on the 145.47 zone, where buyers may attempt to defend the support.
⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for their own decisions and risk management.
Trade closed: stop reached
😔
🔥 Top indicators I personally use 👇
tinyurl.com/3dh9em7m
tinyurl.com/3dh9em7m
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥 Top indicators I personally use 👇
tinyurl.com/3dh9em7m
tinyurl.com/3dh9em7m
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.