SOL Bullish drive

4 Haz

Using STIC indicators v1 and v2 helps identify bullish/bearish flips and potential major or minor corrections. In combination with plotting Elliot wave impulsive and corection waves, we can see that SOL is currently in impulsive wave 2 and corrective wave C, which is pointing to the end of wave 2, as shown here on the lower timeframe: tradingview.com/x/IMmsy603/.
As long as the bullish bearish market flip line holds (green MA line) using STIC v2, the bullish momentum should continue.
Position accordingly.
I use STIC (Smart trading and Investment Companion) to identify my entries and exits
#Tradesmartly

30 Haz

İşlem elle kapatılmış

Elliot wave setup gets invalidated if the wave encroached into the previous waves. like the wave 2 setup, if price falls belows the or at the wave 2 price, then Elliot wave is invalidated.
There is a possibility of that happening as there are still liquidity below the 200MA. as seen here

that can lead to a potential double bottom which is still bullish.