Trading Plan for SOLUSDT Long Entry

Trading Plan for SOLUSDT Long Entry
1. Entry Point:
Your entry seems to be around 191.46 - 188.00 USDT, which is within a demand zone (highlighted in blue).
The price is currently consolidating near the 4H Order Block (OB), indicating a potential bullish reversal.
2. Stop Loss (SL):
A reasonable SL would be placed slightly below the 185.25 USDT level to avoid being stopped out by market noise while still protecting capital.
3. Take Profit (TP) Targets:
TP1: 203.55 USDT – First target to secure partial profits and de-risk.
TP2: 222.09 - 222.17 USDT – Major resistance zone, ideal for closing the position.
4. Risk-to-Reward (R:R) Ratio:
Entry: ~191.46 USDT
SL: ~185.25 USDT (Risk: ~6.21 USDT)
TP1: ~203.55 USDT (Reward: ~12.09 USDT) → 1:2 R:R
TP2: ~222.09 USDT (Reward: ~30.63 USDT) → 1:5 R:R
5. Confirmation & Trade Execution:
Break of Downtrend Line: Watch for a strong bullish candle breaking the descending trendline for confirmation.
Volume Analysis: Increasing buy volume at support strengthens the bullish case.
Market Conditions: Ensure Bitcoin and the overall crypto market sentiment align with the long setup.
6. Risk Management:
Risk per Trade: Keep it between 1-2% of your trading capital.
Trailing Stop: Move SL to breakeven once TP1 is hit.