The ETH strategy shared earlier has played out as expected, and profits have been secured. The opportunity is here: $SOXL The market structure is signaling, but don’t mistake a rebound for a reversal trap. On the four-hour chart, price is repeatedly testing the previous high-volume trading zone, while trading volume has not increased in tandem, indicating limited buying support. The moving averages overhead continue to act as resistance, and each rally is followed by a pullback on declining volume—a classic pattern of weak consolidation.
If price cannot hold near the key level, a move lower is highly likely. I favor opening short positions when the rebound loses momentum, since the structure remains intact and price and volume are diverging. The main risk is a sudden surge on heavy volume, but the current market does not support that scenario.
🔴 Trade direction: Short
📍 Entry range: 100.02 – 105.02
🛑 Stop loss: 106.02
🎯 Take profit 1: 97.02
🎯 Take profit 2: 90.02
Take in the vastness of mountains and seas; observe the market’s subtleties.
Join Uncle Xiong and witness the market’s gains and losses.
#SOXL
Click below to trade 👇
If price cannot hold near the key level, a move lower is highly likely. I favor opening short positions when the rebound loses momentum, since the structure remains intact and price and volume are diverging. The main risk is a sudden surge on heavy volume, but the current market does not support that scenario.
🔴 Trade direction: Short
📍 Entry range: 100.02 – 105.02
🛑 Stop loss: 106.02
🎯 Take profit 1: 97.02
🎯 Take profit 2: 90.02
Take in the vastness of mountains and seas; observe the market’s subtleties.
Join Uncle Xiong and witness the market’s gains and losses.
#SOXL
Click below to trade 👇