YonatanWu
--
Bearish
📉 My Painful Lesson on $SOL
I was greedy… on 18-Aug, SOL actually touched my entry price at $194 — I had the chance to close in break-even. But I didn’t. I thought “it will go higher.” Now, SOL look likely heading back to retest the strong support at 176.25, and my position has grown way too big due to averaging down. All I can do now is watch the chart every day and wait patiently.
🔑 Lessons Learned (the hard way):
❌ No Stop Loss: My first entry was $205. The drop came fast, and I was getting trapped so quickly.
❌ Ignoring the 2nd Chance: When price bounced back to my entry, I should’ve reduced risk. Instead, I was stubborn.
⚠️ Risk per Trade: Never risk more than 5% of total capital on a single trade.
⚠️ R:R Discipline: Only take trades with at least 1:2 Risk/Reward.
I knew this… but broke my own rule.
Now $SOL is traded around $179~180.
What do you think? Will it hold this support or break even lower? I worry it seems like rising wedge pattern and rising wedges are often bearish patterns, especially if the strong support breaks.
💬 Share your thoughts below — let’s discuss and grow together.
I was greedy… on 18-Aug, SOL actually touched my entry price at $194 — I had the chance to close in break-even. But I didn’t. I thought “it will go higher.” Now, SOL look likely heading back to retest the strong support at 176.25, and my position has grown way too big due to averaging down. All I can do now is watch the chart every day and wait patiently.
🔑 Lessons Learned (the hard way):
❌ No Stop Loss: My first entry was $205. The drop came fast, and I was getting trapped so quickly.
❌ Ignoring the 2nd Chance: When price bounced back to my entry, I should’ve reduced risk. Instead, I was stubborn.
⚠️ Risk per Trade: Never risk more than 5% of total capital on a single trade.
⚠️ R:R Discipline: Only take trades with at least 1:2 Risk/Reward.
I knew this… but broke my own rule.
Now $SOL is traded around $179~180.
What do you think? Will it hold this support or break even lower? I worry it seems like rising wedge pattern and rising wedges are often bearish patterns, especially if the strong support breaks.
💬 Share your thoughts below — let’s discuss and grow together.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
5
0