$SOXL : Short Setup
SOXL is trading inside a 65.5–79.3 range after a steep sell-off, rejected near 79 and now below its 9-period MA. I'm looking to sell a bounce into the range top instead of shorting the middle.
Entry: 76.5 – 78.5 (on retest)
Stop-loss: 80.0
- TP1: 72.0
- TP2: 69.0
- TP3: 66.0
Reason: Rejection near 79, price under the 9-period MA, and 65.5–68 is the range low that has been tested twice. A 1H close above 80.0 invalidates the setup.
📰 News: Chip and memory stocks have lost about $3.7 trillion in market value since October 6, and semiconductor stocks only rebounded on Tuesday after steep losses. The PHLX Semiconductor index fell 7% in a single session. A 3x leveraged product amplifies these moves, so keep size small.
⚠️ 3x leveraged product, very volatile. Small size, low leverage.
Personal view, not financial advice. DYOR.
#SOXL #Semiconductors #Binance #futures
SOXL is trading inside a 65.5–79.3 range after a steep sell-off, rejected near 79 and now below its 9-period MA. I'm looking to sell a bounce into the range top instead of shorting the middle.
Entry: 76.5 – 78.5 (on retest)
Stop-loss: 80.0
- TP1: 72.0
- TP2: 69.0
- TP3: 66.0
Reason: Rejection near 79, price under the 9-period MA, and 65.5–68 is the range low that has been tested twice. A 1H close above 80.0 invalidates the setup.
📰 News: Chip and memory stocks have lost about $3.7 trillion in market value since October 6, and semiconductor stocks only rebounded on Tuesday after steep losses. The PHLX Semiconductor index fell 7% in a single session. A 3x leveraged product amplifies these moves, so keep size small.
⚠️ 3x leveraged product, very volatile. Small size, low leverage.
Personal view, not financial advice. DYOR.
#SOXL #Semiconductors #Binance #futures
