The SOXL strategy shared earlier has now successfully locked in profits this round. Beneath the surface, the market waits for no one, and the price action for $SOXS is laying the answer out in plain sight. After pulling back to the previous high-volume trading zone on the four-hour chart, the lower wicks have grown shorter each time, indicating that selling pressure is being absorbed rapidly.
Volume hasn’t expanded, but the price base is quietly moving higher. This kind of rise on declining volume is often a sign of the major players controlling the market. As long as the key level holds, there’s still room to move higher. I’m inclined to open a long position here and let the price action unfold. Looking at it calmly, the risk is an acceleration lower if support breaks, but the current pattern doesn’t point to a deep pullback.
🟢 Trade direction: Long
📍 Entry range: 466.9 – 44.99
🛑 Stop loss: 43.99
🎯 Take profit 1: 475.9
🎯 Take profit 2: 49.99
Gaze upon the vastness of mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOXS
Click below to trade 👇
Volume hasn’t expanded, but the price base is quietly moving higher. This kind of rise on declining volume is often a sign of the major players controlling the market. As long as the key level holds, there’s still room to move higher. I’m inclined to open a long position here and let the price action unfold. Looking at it calmly, the risk is an acceleration lower if support breaks, but the current pattern doesn’t point to a deep pullback.
🟢 Trade direction: Long
📍 Entry range: 466.9 – 44.99
🛑 Stop loss: 43.99
🎯 Take profit 1: 475.9
🎯 Take profit 2: 49.99
Gaze upon the vastness of mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOXS
Click below to trade 👇