$SOXL strong bearish. However, it's currently sitting inside a major historical demand zone (85-99) from previous months
While trend is clearly down, selling right at this major support is risky. Safest approach is to wait for a reaction. A short-term mean-reversion bounce is likely, while a short trade should ideally wait for a bounce to a lower high
$SOXL Short Setup (Priority 60%)
Short Entry: 108 - 115
SL: above 132
TP: 95 - 86
$SOXL Long Setup (Counter-trend bounce from historical support): Priority 40%
Long Entry: 86 - 90
SL: below 80
TP: 105 - 120
Support me just Trade here👇#soxl
While trend is clearly down, selling right at this major support is risky. Safest approach is to wait for a reaction. A short-term mean-reversion bounce is likely, while a short trade should ideally wait for a bounce to a lower high
$SOXL Short Setup (Priority 60%)
Short Entry: 108 - 115
SL: above 132
TP: 95 - 86
$SOXL Long Setup (Counter-trend bounce from historical support): Priority 40%
Long Entry: 86 - 90
SL: below 80
TP: 105 - 120
Support me just Trade here👇#soxl