SOL Analysis Deep Dive:
Identifying Optimal Entry and
Exit Zones
O Description. May 1
Yesterday, SOL gave a sharp downside shakeout, dropping from the weekly
open at $147.98 (perfectly retested) down to the 0.5 Fib retracement of the swing at $140.25. Here's a structured breakdown of the key levels, trade setups, and R:R profiles for both longs and shorts:
Key Levels & Confluences
1. Higher-Timeframe Opens
Weekly Open & Retest: $147.98 -pivoted price before the drop
Monthly & Prior-Day Open Cluster:
$147.98-$146.31 strong support
confluence zone
2. Fibonacci Support Zones
0.5 Fib at $140.25 - primary
mean-reversion entry
0.786 Fib (smaller wave) at $138.78 -
>
5. Market Profile Value Areas (10-Day Range)
Value Area High (VAH) at ~$153.00
overhead resistance confluence
Value Area Low (VAL) at ~$145.75-
underpins support
Long Trade Setups
1. 0.5/0.786 Fib + Daily Bullish Order Block
Entry: $141-138.78
Stop-Loss: $137.5
Target: $165 (anchored VWAP / Fib
zones)
R:R = 9:1
2. Higher-Timeframe Open Cluster
Entry Zone:
$147.98-$146.31 (monthly/weekly open)
Stop-Loss: $142.5
Target: $165
R:R = 3:1
Why these levels? The 0.5 Fib is a classic mean-reversion zone, bolstered by the daily order block. The $147-146 zone ties together multiple opens (weekly, monthly, prior-day), offering a solid demand area if price retraces back up.
Short Trade Setup
Trigger: Rejection / swing-failure around $153.4
Entry: $153.4
Stop-Loss: $154.3
Target: Weekly/Monthly open (~$147)
R:R ≈ 6:1
Low-risk short: A clean rejection at the recent high lets you define risk tightly above the swing, aiming to capture the retrace back to the opens.
Summary & Game Plan
Primary bias: Look for long entries at the 0.5 Fib ($140.25) or the open-cluster zone ($147-146), with targets toward the anchored VWAP at ~$166.
Alternate bias: A short on clear rejection from $153.4, targeting the opens as support.
Risk management: Keep stops tight (SL below $137.5 or above $154.3) to maximize R:R on your favored setups.