Skip to main content
Home
Contact
My Account
Cart
Logout
email usour twitterour facebook page youtubeinstagram

 

 

*Email your blog idea to support@futuresnetworks.live

Monday, September 13 2021
Solana to the... Sun

Solana has been a hot topic in the crypto world lately. FNL has been on the ball in trading and keeping up with Solana's journey upward. We discussed early entry points and Solana's game plan in an earlier article from Aug 1st, then had a follow up to review charts Aug 18th. Solana was around $35 then, and is now sitting at $202.

-the original article from AUG 1st (https://www.fnlcryptodna.com/post/solana)

-follow up reviewing the charts (https://www.fnlcryptodna.com/post/solana-2)

WHY

.....COOL... so what does this mean for me(you)? Everyone loves to hear stories about how they could've had an investment grow 577% in a month right? NO.

Moving Forward

Assuming we still have confidence in Solana and nothing unexpected shows up, let's talk charts. To give an example of the clarity that can come from a technical analysis standpoint, let's start with a blank Solana chart from trading view.

 

Where might you look for an entry point? or to exit if you were holding a position?

Technical analysis?

Now let's take a look at the clarity provided by recognizing key levels and channels.

The purple channel is the original with a blowoff channel on either side showing exactly double the original channel. Notice how Solana wants to hold the same angle on both sides, as well as pull back to previous peaks (higher highs) on the market denoted by the horizontal green lines.

Key takeaways

Notice how intersections between channels and key levels can be great places for entry positions. Maybe practice drawing on your charts to better understand what you see for yourself. Each key level becomes a place of contention. The more eager you are to be in your position, the closer you might look for an entry; but on the other hand, the more patient you are with entries in different assets, the more likely you are to land in better positions overall.

The balance between desire to be in a trade and the need to wait for a 'good enough' position is a battle every trader will face on any market. The most recent higher high around 191 would be my first entry point if i was desperate to get in, but I would leave room on the table for Solana to continue pulling back after such a strong run upward. I personally am hesitant to get in at the top of this move, if i do jump in it will be for 15% or less of my desired total position. Leaving room implies setting either separate buy limit orders at different key levels, or setting what is called a 'ladder limit' if your trading software allows.

A ladder limit will divide your desired position into your chosen number of separate entries evenly scattered within a given range. You might apply a ladder limit in this case to avoid the common FOMO mistake of getting in at the top of the mark.

Trade safely- Travis H

Thank you for your time

FNL Crypto DNA

Posted by: Travis H AT 01:50 pm   |  Permalink   |  0 Comments  |  Email
 

SHARE THIS PAGE!
Add to favorites
Twitter
Facebook
Email
Monday, 13 September 2021
Tuesday, 24 August 2021
Wednesday, 28 July 2021
How to use the First Hour Box in your trading
Wednesday, 09 June 2021
Dallas Social
Tuesday, 08 June 2021
Momentum Trades and what to look for.

Visit David Jeffries FNL Blog Site

Don’t take life so seriously, no one gets out alive!

My picture taking hat.

 

"At some point, you will find your life is changing and you have to roll with the punches or get knocked around pretty badly as the waves of time get rough and rougher.

Getting younger is not an option. Getting old is the best option, but it comes with conditions. (read the fine print:)

When that time comes, look at what we do here in the FNL trading group and understand it is a chance to start over and start bigger than ever. If you want to earn extra money or re-start your career with  great pay increase, then you can learn how with an awesome group of people that are committed to each other and learn together.  On patrol or on deployment; a battle buddy or your patrol partner is a must. We recommend one for trading also." -David Jeffries, TX