Has SOL stopped falling? When can we enter the short-term market?
SOL is under pressure near $190, and it has not broken through effectively after several upward surges. Today, let's use the Qianlong strategy to analyze the four-hour short-term market.
1. The volume broke through the pressure level of $190 and reached $193, but it did not stand firm, and triggered another wave of callbacks, indicating that the pressure from above is very large.
2. After a wave of callbacks, a pregnant line appeared near the previous low support level, and the market entered a volatile period.
3. The following three K-lines belong to inertial decline, and there is no volume. Although it is currently a volatile market, there is no obvious signal to stop falling.
4. The white line below is the support level of the previous low, and it is also the support of the lower track of BOLL. Judging from the above clues, the power of SOL shorts is weakening, and there is support below,
but there is no obvious signal to stop falling. Overall, SOL is currently a volatile market, and the power of longs and shorts is relatively balanced. At present, near the support level, the previous low and the support of the lower track of BOLL are relatively strong short-term support. A safer way of operation is to wait for an obvious reversal signal to enter the market in the short term.
A more aggressive position can enter the market, and the stop loss is placed a little below the support. Even if the stop loss is hit, the loss is not large.
But I prefer to choose a safe operation method, waiting for the subsequent reversal signal if it does not fall below this support level, and then enter the market. If it falls below, wait for the next opportunity.
This position cannot be shorted. The four-hour current trend belongs to a callback of the upward trend. As long as the callback does not break the previous low, it is an upward trend. Shorting the upward trend is a counter-trend operation. The upward trend can be bearish but not shorted. If you want to short, you have to wait until it is confirmed that it has entered a downward trend. It is better to miss than to make mistakes, because there are many short-term opportunities every day.
The four-hour market changes very quickly. Short-term profits should be closed. You can't let yourself be trapped because of greed. Short-term trading emphasizes the utilization rate of funds, so you must be willing to stop profits and dare to stop losses, otherwise the meaning of short-term trading will be lost.