When looking at Solana on the Daily time frame, we can see that it is currently trading in the middle of a descending parallel channel. This typically isn't the best time to enter a trade because it is too far away from the area of value. In my opinion, the area of value will be towards the top of the channel which would be a more ideal place to short, or the bottom of the channel, which would be a more ideal place to long. Regardless of whether you enter now or wait till it's at the top or bottom, don't forget to use a stop-loss and minimize risk!
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Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
This is not financial advice. This is for educational purposes only.
Love it or hate it, hit that thumbs up and share your thoughts!
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
This is not financial advice. This is for educational purposes only.
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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.