The window and the reversal are in sync, and the chart structure for $SOXL is starting to signal a move. On the four-hour timeframe, rebound volume has continued to contract, with frequent upper wicks—showing that every push higher is being sold back down and that buyers are providing noticeably weak support. Key levels have been tested repeatedly but have failed to hold decisively. This kind of structure often points to a directional move, and my view is that it will be downward.
Short-term moving averages are starting to flatten and turn weaker, while the combination of funding rates and open interest does not support another leg up. The logic behind shorting here is to bet that the rebound is running out of steam, not to chase a decline. A rebound is still possible, but as long as resistance overhead holds, the bearish structure remains in place.
🔴 Trade direction: Short
📍 Entry range: 1044.3 – 107.03
🛑 Stop loss: 109.03
🎯 Take profit 1: 101.03
🎯 Take profit 2: 96.02
Take in the vastness of mountains and seas, and observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇
Short-term moving averages are starting to flatten and turn weaker, while the combination of funding rates and open interest does not support another leg up. The logic behind shorting here is to bet that the rebound is running out of steam, not to chase a decline. A rebound is still possible, but as long as resistance overhead holds, the bearish structure remains in place.
🔴 Trade direction: Short
📍 Entry range: 1044.3 – 107.03
🛑 Stop loss: 109.03
🎯 Take profit 1: 101.03
🎯 Take profit 2: 96.02
Take in the vastness of mountains and seas, and observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SOXL
Click below to trade 👇