$SOXL Analysis, Key levels & Targets
$SOXL Analysis, Key levels & Targets
This, without a doubt has been one of the most exhausting positions I have on right now…. But that is the nature of 3x leveraged instruments….
I have 310 shares, with an average of 21.61 and I am 34.72% down.
SO, for anyone that remembers this strategy from last year… the next add will be to double my position at 7.48. I don’t have the 7.48 order set yet, but I have alerts at $10 and once it hits 10 that order will be in…
From here my sell target is 35.74 —> looking for a 65.39% profit…. And of course that target will change if the 7.48 double target triggers….
Looking at stupid Willy, there is still room and I can see a real possibility of 7.48 hitting… but it doesn’t have to…. Looking at some semi companies, a lot of them are looking to test their 200MA on the weekly, but also they are hooking upward at their weekly 180EMA so I’m comfortable with my position here.
If you’re playing this one with me - now you know how insane my tolerance for volatility is….
Happy trading, y’all…
On a side note: what's your favorite Semiconductor company? I trade AMD and ON, and I track NVDA
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
This, without a doubt has been one of the most exhausting positions I have on right now…. But that is the nature of 3x leveraged instruments….
I have 310 shares, with an average of 21.61 and I am 34.72% down.
SO, for anyone that remembers this strategy from last year… the next add will be to double my position at 7.48. I don’t have the 7.48 order set yet, but I have alerts at $10 and once it hits 10 that order will be in…
From here my sell target is 35.74 —> looking for a 65.39% profit…. And of course that target will change if the 7.48 double target triggers….
Looking at stupid Willy, there is still room and I can see a real possibility of 7.48 hitting… but it doesn’t have to…. Looking at some semi companies, a lot of them are looking to test their 200MA on the weekly, but also they are hooking upward at their weekly 180EMA so I’m comfortable with my position here.
If you’re playing this one with me - now you know how insane my tolerance for volatility is….
Happy trading, y’all…
On a side note: what's your favorite Semiconductor company? I trade AMD and ON, and I track NVDA
—-
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
YouTube Channel www.youtube.com/@spyderqueentrading (Almost DAILY updates, come play)
I am not your financial advisor.
I am not your financial advisor.