Hey folks. I hope you are doing well. This is my Current plan on Solana
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On the Chart above I have list my current current Plan of Action, with a Long Entry at or near $32.027, give or take either way. I would like to see a retest off support for a bounce. I will take some profits at resistance, and depending on price action I may close entire trade. If price action does break resistance and goes higher, I will take profits at next resistance, and depending on price action, I may let the rest ride or close out position.
If price action fails the retest and goes lower, I will add to my position at or near $25.889, bringing down my average buy in price. My stop loss will be a daily close below support.
Note: This trade is for a short term play. Anywhere from a couple days to a week or two. I believe more downside is to come, and will look to short at resistance.
Markets can change at anytime, and depending on price action, I may revaluate my position. Nothing is set in stone. For no trader can predict the markets, best that traders can do is to determine the probabilities in which direction it will go.
It is important to note, I have not used any leverage.
Please take Note: Price Action on Day Charts can take some time to play out. Anywhere from a couple days to couple of weeks.
