$SOXL remains in a strong downtrend, but is currently experiencing a short-term technical rebound on the 1-hour chart.
However, since the broader trend remains bearish (price is trading below the downward-sloping 4-hour EMA), this rebound favors short entries at key dynamic resistance (109–112), as well as quick long scalps near local support (102–104).
$SOXL Short Setup (Preferred)
· Short entry: 109–112
(Wait for a rejection wick at the 4-hour EMA9 resistance)
· Stop-loss: Above 117
· TP1: 100 (psychological support)
· TP2: 94.5 (recent swing low)
$SOXL Long Setup (Countertrend Scalp, High Risk)
· Rationale: Take advantage of short-term rebound momentum from the 94.3 bottom. A quick in-and-out trade.
· Long entry: 102.0–104.0 (retest of the 1-hour EMA)
· Stop-loss: Below 98.0
· TP1: 109.5 (recent local swing high)
· TP2: 115.0 (stronger resistance zone)
Support me by trading here 👇#soxl
However, since the broader trend remains bearish (price is trading below the downward-sloping 4-hour EMA), this rebound favors short entries at key dynamic resistance (109–112), as well as quick long scalps near local support (102–104).
$SOXL Short Setup (Preferred)
· Short entry: 109–112
(Wait for a rejection wick at the 4-hour EMA9 resistance)
· Stop-loss: Above 117
· TP1: 100 (psychological support)
· TP2: 94.5 (recent swing low)
$SOXL Long Setup (Countertrend Scalp, High Risk)
· Rationale: Take advantage of short-term rebound momentum from the 94.3 bottom. A quick in-and-out trade.
· Long entry: 102.0–104.0 (retest of the 1-hour EMA)
· Stop-loss: Below 98.0
· TP1: 109.5 (recent local swing high)
· TP2: 115.0 (stronger resistance zone)
Support me by trading here 👇#soxl