$SOL
SOL simple technical analysis and set up
- Weekly levels: $187.5 and $142.55
- Daily level: $152
- Price action: Weak bounce to $157.93 from $152, comparing to last time $163 retracement. Both daily and 4H timeframe show a downtrend.
- Confirmation: bearish daily pin bar rejecting EMA 50.
So the market is bearish, it is low risk to take a short trade. My trade set up would be:
-Entry: $153~154
-TP: $142.5
-SL: $158
-Scale in at $150 and $146, also move SL to break even.
Let's see how it goes.