$SOXL : Short Setup
SOXL is stuck in the middle of a wide 51 to 59.75 range with no clear edge. I'm not trading the middle. I'm waiting for a bounce into the 57–58 supply zone to short strength, in line with the weak 30-day trend.
Entry: 57.00 – 57.80 (on rejection)
Stop-loss: 59.00
TP1: 55.50
TP2: 53.50
TP3: 51.50
Reason: The 57–58 zone is where earlier rallies stalled, price is moving sideways around a flat 1H MA9 (about 54.6), and the 30-day performance is deeply negative.
⚠️ This tracks a 3x leveraged semiconductor product and moves fast, so I keep size small and use a strict stop.
A 1H close above 59.80 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#SOXL #Semiconductors #TradingSignals #Binance #BinanceSquare
SOXL is stuck in the middle of a wide 51 to 59.75 range with no clear edge. I'm not trading the middle. I'm waiting for a bounce into the 57–58 supply zone to short strength, in line with the weak 30-day trend.
Entry: 57.00 – 57.80 (on rejection)
Stop-loss: 59.00
TP1: 55.50
TP2: 53.50
TP3: 51.50
Reason: The 57–58 zone is where earlier rallies stalled, price is moving sideways around a flat 1H MA9 (about 54.6), and the 30-day performance is deeply negative.
⚠️ This tracks a 3x leveraged semiconductor product and moves fast, so I keep size small and use a strict stop.
A 1H close above 59.80 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#SOXL #Semiconductors #TradingSignals #Binance #BinanceSquare
