$SOXL Market Has Shifted Bearish.
A little while ago, I was looking for a buying opportunity in SOXL and thought it could move higher. However, I repeatedly warned that nobody should enter without proper confirmation because this was a dangerous zone.
Now the market has reversed and already broken down to the downside. By the time I'm writing this post, SOXL has dropped to around $58.75.
If you're looking for a short opportunity here, these are the levels I'm watching:
Entry: $59.69 – $58.70
Stop Loss: $65 – $66
Targets:
- TP1: $51.15 — Close around 35% of your position here.
- Final TP: $42.46 — Hold the remaining position until this level.
Make sure to trail your stop loss gradually as the market moves in your favor.
The market has already shifted bearish, and the downside momentum is now in focus.
A little while ago, I was looking for a buying opportunity in SOXL and thought it could move higher. However, I repeatedly warned that nobody should enter without proper confirmation because this was a dangerous zone.
Now the market has reversed and already broken down to the downside. By the time I'm writing this post, SOXL has dropped to around $58.75.
If you're looking for a short opportunity here, these are the levels I'm watching:
Entry: $59.69 – $58.70
Stop Loss: $65 – $66
Targets:
- TP1: $51.15 — Close around 35% of your position here.
- Final TP: $42.46 — Hold the remaining position until this level.
Make sure to trail your stop loss gradually as the market moves in your favor.
The market has already shifted bearish, and the downside momentum is now in focus.
