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SOLUSDT trade ideas

💡Don't miss the great buy opportunity in SOLUSD @solanaTrading suggestion: . There is a possibility of temporary retracement to the suggested support line (114.02). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . SOLUSD is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 58. Take Profits: TP1= @ 120.00 TP2= @ 130.14 TP3= @ 142.53 TP4= @ 155.00 TP5= @ 166.72 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
4
What is Bullish Flag Pattern?What is a Bullish Flag Pattern? The bullish Flag pattern is usually found in assets with a strong uptrend. It is called a flag pattern because it resembles a flag and pole. Pole is the preceding uptrend where the flag represents the consolidation of the uptrend. How does Bullish Flag Pattern? The flag pattern resembles a parallelogram or rectangle marked by two parallel trendlines that tend to slope against the preceding trend. Phase 1: Preceding Uptrend When there is an extreme demand in prices there is an uptrend. It continued as the demand increases. Phase 2: Flag After the sharp uptrend when supply increases more then the demand prices move to the consolidation phase or flag phase. This acts as a small price channel. Phase 3: Uptrend Continuation As the flag is a pause in an uptrend, as prices consolidate investors again start to show interest in the asset which eventually leads to heavy demand again which further leads to a breakout and uptrend continuation. Role of Volume: Volume plays a vital role in the completion of the Bullish Flag pattern. When in a preceding uptrend the volume is quite higher. In the flag phase, the volume starts to go down as investors are least interested to buy and sell that particular asset. And again on the breakout, the volume surges. Volume with Breakout gives a good indication of a successful uptrend. Above Chart Explanation: This is 4H chart of SOLUSDT We can see a good preceding uptrend with great volumes. Then after the uptrend, we enter the second phase the flag phase we can see perfect bounce and retracement from upper and lower trendlines or flag with diminishing volumes. And again a breakout with good volumes. Here could be the two possible entries one at the bottom of the flag that gives us a very low-risk entry if it breaks the flag we exit. And second entry can be at breakout, first, we have to confirm that the breakout is legit for that we can look at the volumes rising volumes to confirm that the breakout is legit. Usually, we should target the length of the pole after the breakout. Conclusion: Bullish Flag is a continuation pattern it occurs quite often on charts and is one of the most reliable continuation patterns. Comment your thoughts on Bullish Flag Pattern in the comment section below. Disclaimer: This is just an educational post never trade just any pattern. And please do your research before making any trades. PS: We are again publishing this for our Indian Audience Happy Trading!
Education
by Coinlog
3
💡Don't miss the great buy opportunity in SOLUSD @solana Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (33.734). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . SOLUSDT is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 59 Take Profits: TP1= @ 37.646 TP2= @ 41.259 TP3= @ 44.072 TP4= @ 46.962 TP5= @ 53.063 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
6