The MARSCOIN strategy we outlined earlier has already played out nicely, locking in profits on this move. The final short setup often hides in the most tempting traps, and the rebound structure at $SOXL is already showing signs of fatigue. On the four-hour chart, trading volume continues to contract, each push higher is weaker than the last, and price has repeatedly tested a key resistance zone without managing to hold above it. This kind of price action looks more like it’s making room for the bears.
Overhead resistance is concentrated, and every rally is quickly pushed back down, suggesting buyers are becoming less willing to step in. As long as price fails to reclaim lost ground decisively, the downtrend will continue to drive the market. I’m more inclined to treat the rebound as an opportunity to position for a short than as a reason to go long.
🔴 Trade direction: Short
📍 Entry range: 120.02 – 124.02
🛑 Stop loss: 126.03
🎯 Take profit 1: 117.02
🎯 Take profit 2: 113.02
Take in the vastness of mountains and seas; observe the market’s subtle shifts.
Walk with Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇
Overhead resistance is concentrated, and every rally is quickly pushed back down, suggesting buyers are becoming less willing to step in. As long as price fails to reclaim lost ground decisively, the downtrend will continue to drive the market. I’m more inclined to treat the rebound as an opportunity to position for a short than as a reason to go long.
🔴 Trade direction: Short
📍 Entry range: 120.02 – 124.02
🛑 Stop loss: 126.03
🎯 Take profit 1: 117.02
🎯 Take profit 2: 113.02
Take in the vastness of mountains and seas; observe the market’s subtle shifts.
Walk with Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇