$SOXS - Short Setup
SOXS (3x inverse semiconductor exposure) spiked to 85.4 during the chip rout and is now fading below its 9-period MA as chip stocks stabilize. I'm looking to sell a bounce into the lower-high zone.
Entry: 70.5 – 73.0 (on retest)
Stop-loss: 75.0
- TP1: 66.0
- TP2: 63.0
- TP3: 60.0
Reason: Lower highs after the 85.4 peak, price under the 9-period MA, and fading volume. A 1H close above 75.0 invalidates the setup.
📰 News: The PHLX Semiconductor index fell 7% in a single session, and chip stocks only rebounded after steep losses. The Nasdaq then fell over 5% with Nvidia down over 9% and Micron down over 17%. A new wave of selling in chips would send SOXS sharply higher, so keep size small. The US jobs report is due today.
⚠️ 3x leveraged product, very volatile. Small size, low leverage.
Personal view, not financial advice. DYOR.
#SOXS #Semiconductors #Binance #futures
SOXS (3x inverse semiconductor exposure) spiked to 85.4 during the chip rout and is now fading below its 9-period MA as chip stocks stabilize. I'm looking to sell a bounce into the lower-high zone.
Entry: 70.5 – 73.0 (on retest)
Stop-loss: 75.0
- TP1: 66.0
- TP2: 63.0
- TP3: 60.0
Reason: Lower highs after the 85.4 peak, price under the 9-period MA, and fading volume. A 1H close above 75.0 invalidates the setup.
📰 News: The PHLX Semiconductor index fell 7% in a single session, and chip stocks only rebounded after steep losses. The Nasdaq then fell over 5% with Nvidia down over 9% and Micron down over 17%. A new wave of selling in chips would send SOXS sharply higher, so keep size small. The US jobs report is due today.
⚠️ 3x leveraged product, very volatile. Small size, low leverage.
Personal view, not financial advice. DYOR.
#SOXS #Semiconductors #Binance #futures
