Waiting for a long entry in 4H - swing trade opportunity
My overall bias for Solana is bullish. The chart looks really good for the bull in the higher time frames such as monthly, weekly and 5D.
I am considering to open a long position for swing trade and for that I us two time frames - daily for confirmation and 4H to identify an entry area.
Daily chart:
I use daily MACD to identify the general sentiment of the asset. If MACD is above 0, it is bullish.
If it is below 0, it is bearish. Currently MACD is fully in the bull zone so I intend to open a long position. But it is the daily stochastic that gives me a signal the bullish momentum is on.
Currently stochastic lines are pointing downwards. So, even though daily MACD is bullish, daily stochastic is not giving me a signal to go to the lower time frame to start looking for a long entry.
I need to wait for the stochastic to reset and start to move to the upside.
4H chart:
MACD lines need to properly cross and point upwards. RSI needs to stay above 50.
Stochastics is not in the overbought territory. If stochastics is already in the overbought territory, it might go through a minor correction, so it is worthwhile for 4H stochastic to reset.
If the conditions above meet, I will open a position for swing trade.
I don't usually use leverage. Occasionally I use 2x leverage. The market is very choppy and I think market makers are out for liquidy hunting. I personally don't think it is worth trading with high leverage unless you are a very skilled trader.
I am considering to open a long position for swing trade and for that I us two time frames - daily for confirmation and 4H to identify an entry area.
Daily chart:
I use daily MACD to identify the general sentiment of the asset. If MACD is above 0, it is bullish.
If it is below 0, it is bearish. Currently MACD is fully in the bull zone so I intend to open a long position. But it is the daily stochastic that gives me a signal the bullish momentum is on.
Currently stochastic lines are pointing downwards. So, even though daily MACD is bullish, daily stochastic is not giving me a signal to go to the lower time frame to start looking for a long entry.
I need to wait for the stochastic to reset and start to move to the upside.
4H chart:
MACD lines need to properly cross and point upwards. RSI needs to stay above 50.
Stochastics is not in the overbought territory. If stochastics is already in the overbought territory, it might go through a minor correction, so it is worthwhile for 4H stochastic to reset.
If the conditions above meet, I will open a position for swing trade.
I don't usually use leverage. Occasionally I use 2x leverage. The market is very choppy and I think market makers are out for liquidy hunting. I personally don't think it is worth trading with high leverage unless you are a very skilled trader.
Trade attivo
I bought more Solana. Daily stochastic lines crossed and starting to point up. 4H MACD lines are touched and haven't properly crossed however, 4H RSI and stochastic are presenting strong bullish momentum. I feel comfortable to go long now. It is a spot trading, not leverage. 
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