SOL/USDT is potentially forming a bullish head and shoulders pattern. The pattern may activate if it closes above $173.07 thereby confirming a breakout.
For a better risk-to-reward ratio, consider buying on a pullback within the range of the right shoulder.
Targets are $182 and $188. While not yet confirmed, there's a high probability of a breakout.
Invalidation if closes below the bottom of right shoulder 164.4 in 1hr time frame.
You can also place a limit order at 164.4 for a better RRR. However, make sure to close your trade if the price closes below this level, as this would invalidate the pattern.
For a better risk-to-reward ratio, consider buying on a pullback within the range of the right shoulder.
Targets are $182 and $188. While not yet confirmed, there's a high probability of a breakout.
Invalidation if closes below the bottom of right shoulder 164.4 in 1hr time frame.
You can also place a limit order at 164.4 for a better RRR. However, make sure to close your trade if the price closes below this level, as this would invalidate the pattern.
Trade active
Tp 1 reached next 188Trade closed manually
Take profit now partially until it reaches the 188 level, to lessen emotional distresses or take profit 100%
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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.
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.