Sol - MMBM - 07.06.22

7 juin 2022

Expectation: up

Long-term perspective: Sellside Liquidity Hunt is done. Price rejected Monday Low which builds the foundation to look for Buyside Liquidity Level

7 juin 2022

Note

Mid-term perspective:
The market gives us a Mondayrange framework to play with. Question is how far solana will retrace back. Is it going to retrace into a discount area (0,618 fib) or will it stop around the pivotal weekly level?

Either one takes a bit more risk and enters already around the weekly pivot or waits for a deeper retracement followed by bullish market structure on the low timeframes.

In a perfect world Asia forms a consolidation followed by a london session Judas Swing from where I am looking to enter longs.

7 juin 2022

Note

Assuming the Trade bias is correct even a long from current lvl gives a slightly positive 1:1 Risk/reward.

The deeper the retrace the better R/R.

Absolute Invalidation is a break below the current "swing" low.

9 juin 2022

Note

Sol chased variant two, the deeper retrace into the discount zone (below 0,5fib lvl of upleg that led to market structurebreak/higher high)

10 juin 2022

Note

SOL Update Friday:

Solana chopped more around but did not invalidate my Idea. Price made a clean bullish impulse on thursday and is building the base for a higher low now. I am still assuming that price will squeeze to the upside. My Invalidation is the same.



Lowterm perspective shows a new created POI which should hold as support if my bias is correct for the day.