💥 Guys, this is it! We are looking at a high-conviction short position for $SOXS .
Shot Trade Position
Entry Zone: $63.00 - $63.85 (Wait for a re-test of this level for a prime entry).
🎯TP1: $60.00
🎯TP2: $55.00
🎯TP3: $52.00
🛑Stop Loss(SL): $67.15 (Above the recent high to manage risk).
🔍 Why this shot position?
Bearish Divergence: This is the big one. We've seen higher highs on the price chart, but the corresponding highs on the indicators (check the MACD/RSI) are lower. This powerful signal suggests that the recent upward momentum is weak and likely to reverse.
Double Top Pattern: The current price is facing significant resistance at the $63.85 level. It has touched this area and been rejected. If it forms a second peak without breaking through, this classic double top pattern will confirm a shift to a downtrend.
Support Break Imminent: The upward trend line from the previous lows is starting to crack. A decisive move below $60 would provide final confirmation.
Excellent Risk-Reward: By placing our stop-loss just above the potential double-top peak, we are risking very little to chase significant targets.
This is a setup where technical analysis, price patterns, and indicator momentum are all aligning for a powerful downward move. Do not miss this entry!
Click here to Trade 👇️
Shot Trade Position
Entry Zone: $63.00 - $63.85 (Wait for a re-test of this level for a prime entry).
🎯TP1: $60.00
🎯TP2: $55.00
🎯TP3: $52.00
🛑Stop Loss(SL): $67.15 (Above the recent high to manage risk).
🔍 Why this shot position?
Bearish Divergence: This is the big one. We've seen higher highs on the price chart, but the corresponding highs on the indicators (check the MACD/RSI) are lower. This powerful signal suggests that the recent upward momentum is weak and likely to reverse.
Double Top Pattern: The current price is facing significant resistance at the $63.85 level. It has touched this area and been rejected. If it forms a second peak without breaking through, this classic double top pattern will confirm a shift to a downtrend.
Support Break Imminent: The upward trend line from the previous lows is starting to crack. A decisive move below $60 would provide final confirmation.
Excellent Risk-Reward: By placing our stop-loss just above the potential double-top peak, we are risking very little to chase significant targets.
This is a setup where technical analysis, price patterns, and indicator momentum are all aligning for a powerful downward move. Do not miss this entry!
Click here to Trade 👇️
