SOLUSD TREND CONTINUATION PREDICTION - BEARISH RECTANGLE PATTERN

2023年5月13日

SOLUSD was making a series of LHs and LLs aligned with the concept of DOW THEORY and the RSI graph near the current price level is also consistent with the price point trend which shows no divergence. A bearish rectangle continuation pattern is also identified near the current price level further strengthening the case for a possible trend continuation.

My entry point for this trade is 19.790.
SL is set at 21.530 and my TP is set at 18.050.

To take advantage of this trend continuation, I have applied another trade but this time TP 2 is set at 16.310 which gives me a risk-to-reward ratio of 1:1.5 for my 2 trades.

OVERALL RISK: 2%
{
(TRADE 1 : 53.9 : approx USD 90 RISK),
(TRADE 2 : 53.9 : approx USD 90 RISK)
}

REWARD: 3%
{
(TRADE 1 : 53.9 : approx USD 90 REWARD),
(TRADE 2 : 53.9 : approx USD 180 REWARD)
}