3xbull
SOXL bearish double top*disclaimer*
I haven't published anything outside of the crypto markets publicly. However, I have had my eye on SOXL, Direxion Daily Semiconductor Bull 3X Shares ETF.
I originally thought that earnings for NVIDIA were going to boost the asset and asset class, however it seemed to me the night before earnings that the earnings call was already priced in.
Looking at an 8 hour hollow candle chart here going back to fall 2021 makes the picture a bit clearer for me (when in doubt zoom out).
SOXL did a bearish double top between late November 2021 and early January 2022. And now volume is kicking up heavily on the sell side. Especially when current volume is compared to moving average for volume.
If the NVIDIA earnings call wasn't enough to lift, and rumors about auto manufacturers continue to slip in through the cracks, I see plenty of downside correction left for SOXL.
That being said, this is part technical and part "buy the rumor, sell the news" analysis and I will keep my eye on this sector which has been outperforming.
#litecoin #LTCBULL token , 3rd buy of the day!!!Bought a HUGE tranche at just over a buck
My break-even is now around $2.20
gonna make a profit on this trade! Cmon, lol :)
please do not follow me on this trade... this is fun money for me.
attempting to BUY bottoms is amateur stuff... NO SERIOUS TRADER would be doing this.
3x ETF SOXL vs other 1x semi ETFs over various time horizonsI compare SOXL returns with SOXX, SMH, and PSI, all ETFs in the semiconductor space.
CONCLUSIONS AND FINDINGS:
YTD 2021 SOXL has not provided any net benefit over it's peers. And if you use stop loss orders you've probably lost money on it due to its extreme volatility. Smaller quant ETF fund PSI is the better performer on most/all time horizons YTD or more recent, especially from a risk/reward perspective. Only when comparing SOXL against the others on a time horizon of 1 yr or longer does SOXL outperform it's peers.
Importantly however, charts mimic real life only to the extent we make the purchase the entire position at once and don't touch it over the entire time frame. But this is not what most traders do. Thus, I recommend holding SOXL only if you're going to buy it and not set any stop loss orders, touch it, trade it, or even look at it for a year or more. But you probably can't handle that. I can't either. Thus the better, more realistic strategy for most traders is to get PSI or one of the other primary ETFs covering this space.
ZEC BREAKOU!!!BINANCE:ZECUSDT Hi friends ,Today we had an all time high breakout for zcash/usdt, According to my analysis if the previous resistance turns into support after consolidation we can have an ideal entry point for a position with a significant return.( long term targets:185,250,300,...)
If you find this idea helpful please consider leaving a comment of your trade and following my account for more, THANKS.
Suuper Bullish on CORG especially after DoorDash IPO this month!Many people don't know anything about this but this company which is a ghost kitchen. On the forefront of the door to door for delivery. Many restaurants have went or are going out of business. Check out this video I found on YouTube that better explains it.
If you look at the chart, CORG recent found a bottom. Resistance at $0.239 I personally invested in this but I don't plan on holding for a long time. I'll probably sell half my holdings when the lockdown are lifted.
$CEMI Down 75 Percent Since Late AprilThis is a great buying opportunity! Expect price to bounce back to 8 bucks a share asap! You could double your investment if you buy soon!
Am I the only one seeing 3X ETH potentialHey Guys, whenever I post, a major dump happen followed by a quick recovery.
After that BTC post Live @ 9721 where BTC literaly crashed to 8.8K and ETH to $190, I still can see an upcoming 15-17K target on #Bitcoin.
Those prices could catapult #Ethereum to $425-650 witch would be a 3X from where we can grab it now, or ETH can be the fuel to launch BTC Rocket to to 15K.
Let's see how it's going to play out has we are still in a Downward trajectory.
#Cheers #TheColorChartist
LongDefinitely Something I would LONG for the Long term. Shoot for BELOW $1 if not you can even buy into it NOW and then hold until it reaches the price you see it hitting prior to the crisis. This company holds their business with a lot of car manufacturers which will solidify their previous stock price. Although it is low now it could be due to volume and drastic reduction in manufacturing focus in the economy.
$INS @INSOLAR @BINANCE MAINNET BUY SIGNAL Test Net are fake transactions, Mainnet is the real deal and launch of an epic undervalued project to helps the world! Profits 300% to 900%
UWT nice 3x bull run nice 30% move with in 5 trading days , continuation with IRAN interference ,oil restrictions