Few days ago I shorted $SOL based on resistance and Fibonacci speed fan. but i closed the position too soon with minor profits because of impulse.
However now based on this simple analysis, I am expecting two scenario:
Bullish: bouncing back up after stabilizing around 101$-102$ in which I may potentially long because it's still respecting the general trend of the analysis.
Bearish: In case the candle closes below the Fibonacci line, there maybe a retest if that fails, $SOL it may drop to areas of minor support round 93$-96$
When you see wicks like these you know the market is very volatile and it has a lot of manipulation. These wicks are the cause of many liquidations. The system doesn't understand all it takes is a brief moment and right volume at the price and all open orders get liquidated.
What you could do??
âStop loss always
đïžSet Limit orders around these resistance levels with tp around the support.
đ§ Think in percentage not amount. 10% is the same percentage even if your portfolio 100 or 1000 but in amount it's different. 10% of 100 is 10$ but 10% of 1000 is 100$ (this is the most important.
In the case of $TRB , the past few days have been volatile the right approach you can keep your position and still improve your entry
If you like, follow I will write more posts about math logic and trading psychology.