I watched it for half the night and didn’t dare move. Now I’ve placed multiple orders on $SOXL .
Take profit: 66.93
Stop loss: 52.1479
👇 Reasons below
You’re probably wondering: with its percentile in the low twenties, what makes me willing to go long here?
First, its position: the 15-minute candle closed at 56.31. Over the past 20 days, it’s been knocked all the way down from its highs, and now sits at the 24.9th percentile.
Honestly, I wouldn’t call it cheap, but it’s the kind of asset that’s just started climbing back up from the floor.
It’s up 22% in a week, while daily volatility is close to 19 points. This isn’t a stock that climbs gradually—it jumps higher, one candle at a time.
The pot is boiling hot; only those close to it get to eat. Where volume can’t hold up, nobody is really stepping in to support the price.
I initially thought this was a rebound. But after breaking down the hourly chart, I saw the lows rising, so I changed direction.
Take profit is set at 66.93, 18.86% above the current price.
Stop loss is set at 52.1479, 7.39% below the current price. Both levels are within the average daily range, and I won’t change them.
The risk-reward ratio is 2.55. With positions changing hands at this level, I’m willing to take this trade.
Liquidity is thin and wicks are common, so I’m prepared to scale in twice when there’s a lot of disagreement.
What do you think? Would you take the trade at this level?
$BANANAS31 $BTC
#SOXL #BANANAS31 #Cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
Take profit: 66.93
Stop loss: 52.1479
👇 Reasons below
You’re probably wondering: with its percentile in the low twenties, what makes me willing to go long here?
First, its position: the 15-minute candle closed at 56.31. Over the past 20 days, it’s been knocked all the way down from its highs, and now sits at the 24.9th percentile.
Honestly, I wouldn’t call it cheap, but it’s the kind of asset that’s just started climbing back up from the floor.
It’s up 22% in a week, while daily volatility is close to 19 points. This isn’t a stock that climbs gradually—it jumps higher, one candle at a time.
The pot is boiling hot; only those close to it get to eat. Where volume can’t hold up, nobody is really stepping in to support the price.
I initially thought this was a rebound. But after breaking down the hourly chart, I saw the lows rising, so I changed direction.
Take profit is set at 66.93, 18.86% above the current price.
Stop loss is set at 52.1479, 7.39% below the current price. Both levels are within the average daily range, and I won’t change them.
The risk-reward ratio is 2.55. With positions changing hands at this level, I’m willing to take this trade.
Liquidity is thin and wicks are common, so I’m prepared to scale in twice when there’s a lot of disagreement.
What do you think? Would you take the trade at this level?
$BANANAS31 $BTC
#SOXL #BANANAS31 #Cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
