SOL/USDT - ULTIMATE user friendly SOLANA chart
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HONEYITSGONE with The ULTIMATE SOLANA chart with entry/ levels to keep an eye on. This user-friendly chart helps you better understand the market conditions. This chart is long-term, and one can always refer to it as long as the volume metrics make sense or until I update it. Please leave a like comment and follow. Also, if you have time take a look at my profile, most recent Ethereum, and previous Solana Idea is linked below I appreciate any feedback. I stayed up late scoping data, so I hope you ENJOY it!
This chart contains Data points, and I built ranges based on them. Check MACD yellow box volume profile ranges show us bottom type volume. Note the data is relevant because it suggests reversals in downtrends, and we have seen all the confirmations required to continue on-trend. That said, further downside is imminent unless Strong Volume enters.
This chart makes up five ranges—further detail on how to enter ranges using DCA is shown on the chart. RSI oversold but can stay that way for a while.
DCA into "support range worth an entry attempt" (Red rectangle) and "Long Leverage Liquidity Wipe Range"(orange rectangle) for better odds.
Don't forget when the price break above a range, the top of the range(resistance) becomes support. If the price breaks below a range, the support turns into resistance.
When entering markets, I often like to purchase at the range lows(prices towards the bottom of a range). If you don't understand how to approach the scenario, the DCA (Dollar Cost Average) strategy is phenomenal. DCA is when you spread your funds across all price levels and is the most effective because, ultimately, no one KNOWS where the price can go. For example, if the price falls or goes up to $10 or $100, using the DCA strategy will allow the investor to average in (buy at all or specific price levels).
Crypto is an emerging market and tends to have a strong macro during inflationary periods. The corrections are hefty, and one should avoid emotion and buy good cheap projects if possible.
I hope you enjoy this chart. Leave a like and follow for more content.
Best Wishes
HONEYITSGONE!
This chart contains Data points, and I built ranges based on them. Check MACD yellow box volume profile ranges show us bottom type volume. Note the data is relevant because it suggests reversals in downtrends, and we have seen all the confirmations required to continue on-trend. That said, further downside is imminent unless Strong Volume enters.
This chart makes up five ranges—further detail on how to enter ranges using DCA is shown on the chart. RSI oversold but can stay that way for a while.
DCA into "support range worth an entry attempt" (Red rectangle) and "Long Leverage Liquidity Wipe Range"(orange rectangle) for better odds.
Don't forget when the price break above a range, the top of the range(resistance) becomes support. If the price breaks below a range, the support turns into resistance.
When entering markets, I often like to purchase at the range lows(prices towards the bottom of a range). If you don't understand how to approach the scenario, the DCA (Dollar Cost Average) strategy is phenomenal. DCA is when you spread your funds across all price levels and is the most effective because, ultimately, no one KNOWS where the price can go. For example, if the price falls or goes up to $10 or $100, using the DCA strategy will allow the investor to average in (buy at all or specific price levels).
Crypto is an emerging market and tends to have a strong macro during inflationary periods. The corrections are hefty, and one should avoid emotion and buy good cheap projects if possible.
I hope you enjoy this chart. Leave a like and follow for more content.
Best Wishes
HONEYITSGONE!
Anmerkung
Make sure to take profits if the opportunity presents itself. Raise/lower your stop to make a profit if you are trading to prevent risk(especially leverage). Make sure to find a good setup before entering a long or a short. Don't get euphoric and join on emotion. Know when to exit and enter your positions. Losses can get uglier because Chewbacca was confident the price would move higher or lower. Instead, the price action does the opposite, but you're so convinced by your bias that the price will go back into profit you begin to throw all rules out the window and lose discipline as a trader. The next thing you look at your wallet and UH-OH, your negative position becomes a catastrophe.Now you went from 10% to sitting at a 50% loss and potentially counting or even facing liquidation if not already been. Have a plan, know how much % of your money you are willing to risk before entering, and use a stop loss. You can't always win. It's mathematically impossible, which is why you have to understand how to take a calculated loss and use consistent entries and ratios to result in compound interest. A little example. You enter a long position with $100 and are willing to risk(lose) 2%($2) to return(win) 10% ($10). The risk to reward is a 1:5(ratio), and if you enter at a good level, chances are on your side if the metrics are right. The idea here is that when losing 2%, you have more room for error, and it will take five inconsistencies which are still equivalent to one of your 10% return entries. The idea is consistency and discipline with a plan, execution, a proper risk/reward ratio, and a good setup; the probability is on your side—interest compounds based on your wins. For example, you return separate units of 10%, making a 20% return for two trades. You lose seven trades in a row for a total of 14%. Your ROE is still positive at 6%.
The idea is to stay consistent and compound interest. For example, you should calculate and place a stop loss to cut your position when the asset price you're trading drops 2% to avoid any further loss. You will get faked out by the market when using stop losses, but it's the safest bet. Losing money is not easy, and it takes discipline to move on. Trading is not accessible if you don't understand, don't be discouraged and learn more to help yourself out. End of the day, anything can go right or wrong.
Anmerkung
This is not financial advice but how I approach scenarios.Anmerkung
PA Holding well here with strong sell pressure Doesn't seem like the markets looking to go much further down yet but prepare for the worst going into the weeks end.
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