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SOXL trade ideas

SOXL: Tactical approach to scale in and outStudying recent price action in SOXL (3X ETF on SMH - semiconductor segment). Example of an uptrend that ended (as defined by 34EMA wave), and then a retracement from 200MA back up to the 34. In this scenario, be cautious about buying into the bounce as it can often drop back down after reaching the 34 again from the bottom. Past support becomes current resistance. Capture gains tactically but exiting a portion of the position once reaching that potential resistance, and again if the breakdown does occur. Determination of what is considered a breakdown, and how much to reduce is suggested as 2 candles showing downtrend, and 50% reduction.
AMEX:SOXL
by cch31
SOXL Stock Chart Fibonacci Analysis 030924Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 423.60% level 3) Hit the top = 57/423.60% Chart time frame : D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : D A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
AMEX:SOXL
by fibonacci6180
SOXL Put credit spread exp Feb 16, 2024Since the New Year started SOXL has declined hard Straight into a -1 sig anticipated support around 25. Which is also a weekly level from 7/14/2023 There seems to be a jump over at VWAP around 28 which is also the daily close from 12/20/2023. The bet here is that it stays in the 22-31 range and the fresh Weekly supports at the red lines hold. It could keep pushing down but that would be a bigger timeframe decline and price has already held VWAP from the Nov 2023 anchor. I anticipate that if the big trolling orders are down at 21, then it could attract price down there. But that's why I'm at 22, so I can roll out if that happens, probably not down if it inverts. But if it ranges around 21, then maybe I roll it out and down to 20 or 19. Symbol SOXL Open Date 1/5/2024 Put or Call Put Expiry Date 2/16/2024 Short Strike 21 Long Strike 19 Price to Open 0.55 Min Width Multiple 4 Risk Ratio 2.64 Return on Risk 37.9% Opening DTE 42 1 Day ROI% 0.90% Max Annual ROI % 329.6% Buyback to Close Open to Roll Closing % Cost on Opening Credit Net Roll % on Opening Credit Closing Date Closing Price Closed Margin ROI % Closed Annual ROI %
AMEX:SOXLLong
by claypuzzle
SOXL / SOXS , this ratio analysis shows when to trade eachSOXL is the triple leveraged semi-conductor ETF while SOXS is its inverse. While SOXL is primarily up trending in its intermediate and full-time history, it does from time to time have a correction mainly when the technology sector gets challenged. I have found that plotting the ratio of the share values is a very accurate way of pinpointing those corrections and temporarily buy some SOXS to offset the downward price action and nullifying any loss. This is more or less insurance in case the overall position must be closed for one reason or another or transient hedging. As can be seen, these corrections last 1-5 days . This strategy is effective risk management as during the correction the SOXS gains some of what SOXL loses especially if the share dollars are equally balanced. Ever better is the same thing on a 2-3 hour time frame albeit it with more hedging trades. I have found that this strategy works on a variety of inverse ETF pairs. Most of them however do not have one side going up more or less continuously and instead oscillate rather than simple and shallow corrections like this pair. Please give a like if you this this could be helpful to your trading.
AMEX:SOXLLong
by AwesomeAvani
SOXL Stock Chart Fibonacci Analysis 012424Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 423.60% level 3) Hit the ceiling = 38.8/423.60% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : D A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
AMEX:SOXL
by fibonacci6180
Porabulas, Hyperbole and Cup and HandleThis pattern looks like a good cup handle set up. Also, risk aversion, overblown rate cut bets retracement, Yen BOJ holds rates but likely not hike in spite of inflation out of fear of disrupting the markets after so long without actual non-monetary engineered inflation from actual productivity after nearly 30 years after exploding countries debt in the 90s where the Nikkei lost 75% of its value AKA "the lost decade" more like lost decades finally coming full circle but not complete as with the retirement of BOJ Governor Kokoda Kato windowmaker monetary policy announcements and his legacy of "Yield Curve Control" "YTC" should end that last country with , still, negative yields, but wont do so until geopolitical risks subside out of fear affecting the us treasury markets causing correspond 10 year treasury yields, to in turn, put up rates at a time when 60% of the US treasury debt roll-over locking in higher interest rates at a time when US debt is at a critical unsustainable projecting and with the Democrats pulling all stops to try and keep trump including but not limited using a congress and administrative majority (won on questionable term without a proper investigation in spite of concrete evidence. And, with a Democrat controlled congress killing the China deal, canceling two biggest oil pipelines that would have allowed China to substitute oil for coal reducing global carbon emit by 30% reportedly (Bloomberg), with the market already pricing in 6 rate cuts 2024 is overbought and is especially vulnerable so they may hold rates for a while, thus yen weakness and dollar strength make YEN doubly LONG but reaching range limits ("ATR") based on BOJ but also technical indicator "Average true Range" or ATR chart technical signal indicator. Note : Since we don't drive a car by looking in the rear view mirror, past performance does not guarantee future results. Educational and Informative is the post's objective (Not "Advice"). For "advice" consult an Advisor of an Adviser or someone qualified.
AMEX:SOXLLong
by CurrencyCapital