The XAU strategy shared last time played out as expected and delivered a solid profit. Breakouts and traps often move in sync, and the market structure for $SOXL is now showing bearish signals. On the four-hour timeframe, rebound volume continues to contract, while a dense trading zone overhead is clearly capping prices. Every push higher has been met with selling. The key level has been tested repeatedly without a convincing hold, suggesting bullish momentum is fading.
In this structure, the rebound looks more like an entry window for bears. As long as price cannot reclaim the lost zone, the likelihood of a move down to test the previous low continues to build. I favor entering short near the end of the rebound, positioning for trend continuation after a structural breakdown.
🔴 Trade direction: Short
📍 Entry range: 98.00 – 104.00
🛑 Stop loss: 106.00
🎯 Take profit 1: 94.00
🎯 Take profit 2: 88.00
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇
In this structure, the rebound looks more like an entry window for bears. As long as price cannot reclaim the lost zone, the likelihood of a move down to test the previous low continues to build. I favor entering short near the end of the rebound, positioning for trend continuation after a structural breakdown.
🔴 Trade direction: Short
📍 Entry range: 98.00 – 104.00
🛑 Stop loss: 106.00
🎯 Take profit 1: 94.00
🎯 Take profit 2: 88.00
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇