🟩 SOL Trading Strategy for Tonight
The overall market is still shaky, despite the recent rally over the past couple of days. We can't rule out the possibility of U.S. investors taking profits overnight, leading to a sell-off. Given the uncertainty, it's best to adopt a conservative trading approach for tonight's SOL session.
Entry Points:
Ant Position: 178-183 +/- 0.5. This is the smallest starter position you want to take, an "ant" size position to minimally get exposure.
Light Position: If SOL dips further to the 170.5-175.8 range, you can open a larger but still relatively small "light" position.
Adding to Position: Your cost price to average down further is 166.7
Risk Management:
Set your stop-loss at 150 or below to prevent excessive losses
For taking profits, treat this as a short-term swing trade. Book profits according to your own risk appetite when SOL reaches back to the resistance zones of 187.5-195
The mid/long-term target for SOL remains at 210 to 230, but don't get greedy holding for that level with this particular position. Remember this is a swing trade.
Not financial advice. DYOR. Trade at your own risk.
Follow if you agree.
