Semiconductor bears are stepping back in. $SOXS is pushing higher on the lower timeframes with the 1h and 4h trends backing it up, and price is holding above the old 51.33 resistance level.
Entry: 51.360 - 51.620
SL: 50.996
TP1: 52.244
TP2: 52.744
The alignment looks clean here—higher highs and higher lows are still intact on the 1h and 4h, while the 15m RSI sits around 63 with an expanding positive MACD histogram. That latest push on the 4h also showed a sharp uptick in volume, giving the move a bit more credibility.
Just be mindful of how far price is from the 200 EMA. It's looking pretty stretched on all three timeframes, so chasing a vertical candle isn't the plan. If momentum starts tapering off near the higher range, trimming risk is better than bag-holding a trade that's already played out.
Entry: 51.360 - 51.620
SL: 50.996
TP1: 52.244
TP2: 52.744
The alignment looks clean here—higher highs and higher lows are still intact on the 1h and 4h, while the 15m RSI sits around 63 with an expanding positive MACD histogram. That latest push on the 4h also showed a sharp uptick in volume, giving the move a bit more credibility.
Just be mindful of how far price is from the 200 EMA. It's looking pretty stretched on all three timeframes, so chasing a vertical candle isn't the plan. If momentum starts tapering off near the higher range, trimming risk is better than bag-holding a trade that's already played out.
