$SOXL โ SHORT scenario (cautious)
๐ Where Iโm watching for an entry: 72.00โ73.20. Iโll consider entering only if a confirmed rejection of further growth appears in this zone.
๐ Stop-loss: 74.20.
๐ฏ Targets: TP1: 68.90 TP2: 67.80 TP3: 65.47
Why this scenario:
Selling pressure remains on the hourly chart. After recovering from 65.47, the price rose toward the 77โ79.29 area but failed to hold at those levels. A sharp decline followed.
The price is now below the main moving averages. Therefore, if it rises back to the 72.00โ73.20 zone and buyers show signs of weakness, Iโll consider a continuation of the downward move.
If the price establishes itself above 74.20, the trade under this plan must be closed. If it establishes itself above 75.90 on the hourly chart, the bearish scenario becomes completely invalid.
Donโt chase the price after a drop. Wait for a suitable entry point and confirmation.#soxl
๐ Where Iโm watching for an entry: 72.00โ73.20. Iโll consider entering only if a confirmed rejection of further growth appears in this zone.
๐ Stop-loss: 74.20.
๐ฏ Targets: TP1: 68.90 TP2: 67.80 TP3: 65.47
Why this scenario:
Selling pressure remains on the hourly chart. After recovering from 65.47, the price rose toward the 77โ79.29 area but failed to hold at those levels. A sharp decline followed.
The price is now below the main moving averages. Therefore, if it rises back to the 72.00โ73.20 zone and buyers show signs of weakness, Iโll consider a continuation of the downward move.
If the price establishes itself above 74.20, the trade under this plan must be closed. If it establishes itself above 75.90 on the hourly chart, the bearish scenario becomes completely invalid.
Donโt chase the price after a drop. Wait for a suitable entry point and confirmation.#soxl
