This is a long trade setup for Solana perpetual futures based on a breakout and retest structure, placed on the 1-hour chart.
Trade Overview
• The chart shows price consolidating near a horizontal resistance zone (yellow line), followed by a breakout above this level and a subsequent retest.
• The entry is taken after confirmation of support at the breakout zone, aiming for a move toward the upper target.
Entry, Target, and Stop-Loss
• Entry: Around 226 USD, following a successful retest of the yellow breakout level.
• Target: 232 USD, marked in green at the upper end of the chart’s risk-reward box.
• Stop-Loss: 222 USD, just below the retest zone, minimizing risk if price reverses.
Trade Logic and Reasoning
• The trade capitalizes on a classic breakout-retest pattern, where price first breaks resistance and then tests it as new support.
• Increasing volume near the breakout supports bullish momentum.
• Risk management is prominent, with a clear stop-loss set below the retest area.
Risk/Reward Profile
This setup offers a favorable risk-to-reward ratio, as visualized by the green/red shaded box indicating potential gain versus loss for the position.
Trade Overview
• The chart shows price consolidating near a horizontal resistance zone (yellow line), followed by a breakout above this level and a subsequent retest.
• The entry is taken after confirmation of support at the breakout zone, aiming for a move toward the upper target.
Entry, Target, and Stop-Loss
• Entry: Around 226 USD, following a successful retest of the yellow breakout level.
• Target: 232 USD, marked in green at the upper end of the chart’s risk-reward box.
• Stop-Loss: 222 USD, just below the retest zone, minimizing risk if price reverses.
Trade Logic and Reasoning
• The trade capitalizes on a classic breakout-retest pattern, where price first breaks resistance and then tests it as new support.
• Increasing volume near the breakout supports bullish momentum.
• Risk management is prominent, with a clear stop-loss set below the retest area.
Risk/Reward Profile
This setup offers a favorable risk-to-reward ratio, as visualized by the green/red shaded box indicating potential gain versus loss for the position.
Trade active
Entered at 226, Let the magic begins :)Trade closed: target reached
One shot Momentum 🔥Done and Dusted ⚡️🥳
Solana 226 to 232 :)
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.
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.