SOXL is looking ripe for a short, with the market structure breaking down in a big way. We got a clear reversal pattern forming here, and the volume is confirming the direction.
━━━━━━━━━━━━━━━━━━━━━
🔴 SOXL SHORT 📉
━━━━━━━━━━━━━━━━━━━━━
📍 Entry Range: $130.9789 – $131.2411
🛑 Stop Loss: $135.0433 (-3.0%)
🎯 TP1: $129.1433 (+1.5%)
🏆 TP2: $124.5545 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 91%
━━━━━━━━━━━━━━━━━━━━━
The CHoCH signal fired off, and when you combine that with the CVD, FVG, OB, and POI confluence, it's a pretty strong case for a short. The fair value gap is glaring, and the order block is right where we need it to be. This setup has all the makings of a solid trade.
A 3.0% stop loss feels about right for this one, and I'd say 2x leverage is a good fit to maximize returns without overexposing ourselves.
We should definitely consider taking some profit off the table at the first target, just to bank some gains and reduce our risk going forward.
Not financial advice — always manage your own risk 🙏
#SOXL #spacexclosesbelowipoprice #TradingSignals #Write2Earn