We are about to complete the IHSI think it is clear the pattern that IHS has formed. Looking for a nice leg higher here.
SOXL trade ideas
SEMIS_30%gain2021SOXL looks like it could be a decent entry if the stochastic picks up in a few days...Semis have been a strong trade for the market and hopefully continue...
$SOXL Bull flagging Can buy on a break of Fridays high w volume, stop on low. Same take profit rules for inside bar set ups (previous)
SOXL 3X Semi - Unusual Volume $2M+ traded for $42 strikeAMEX:SOXL $2M+ in premium traded for $42 strike calls for Friday May 21th 2021 expiration traded today.
Unusual Options Volume Activity for $80 calls about 9000+ contracts traded through out the day (Above Open interest of only 1162) from $2.10 to $2.50
Various semi conductor stock earnings coming up soon.
Bounced off 50 EMA Today on the daily showing downside support. CCI is also trending up going from bearish to bullish after being sold through out the day.
Nice hammer on the 4H chart
A Months time on these options I would recommend a vertical spread to keep theta at bay.
Wait for confirmation of break of the $40.00 level for upward trend and possibly a close above this level to start a position.
Enter using $40 or $41 calls around trigger as theta burn will be less once ITM. Or consider a vertical.
Exercise caution when entering 3X ETF as they tend to move rapidly to the down side on any pullback.
Support 50 EMA $38.55
Trigger $40.00
Target 41.44, 42.44, stretch target of 43.45
SL close below 50 EMA
Follow more unusual activity signup for a free trial using my referral link marketaction.live
Please let me know in the comment if you find this useful.
Semi Conductors - SOXL - Inverse PotentialPrice Compression occurring. iH&S right shoulder on watch.
SOXL, the best kind of stiff sock, semi play with the shortageNo raising rates til 2023. FOMC bullish af. Don't buy puts.
SOXL bounce off 61.8 fib level, reversal confirmedGreat time to enter
We have the greatest rebound of all time for the ev industry. its time we take advantage of the great move
They are going to crash this (and everything else) back down...for a bit (tomorrow), I suspect, one more time (rinse and repeat, etc)... (not trading advice).
Maybe I am wrong.
Rising wedge on SOXL. looking for breakout then test support.Looking for a breakout to the downside. Well defined support will be my buying zone
SOXL$SOXL- back above the 100 day EMA, also above a multi month support line. I am buying between $28-32, selling(stop loss) near $27.75, securing some profit at $40 and $43. According to Yahoo Finance: “As more people have been staying indoors since the COVID-19 outbreak, there has been a surge in electronic goods sales, which are leading to a rise in demand for microchips. So much so that there is presently a supply crunch for microchips that is affecting production of electronic and automobiles. This once again proves that the semiconductor industry is on track for further growth.”
SOXL to long after reversal confirmWe are monitoring seems like price reversing at 61.8 fib level, but lets wait abit longer
SOXL at 61.8 Fib level 31.06great chance ? or great chance for failure? we are still waiting the reversal
SOXL Major CorrectionETF may bounce back on the next support level, which maps to a FIB retracement and trend line.
Will buy on the red zone.
SOXL Long Swing TradeBUY signal for SOXL all day last Friday, with a nice dip intraday to provide a buying opportunity.
SELL on first red heiken ashi candle.
TP1 is about 6% or $720, where I'll take of 25% of the position if that is hit.
TP2 @ 8%/$733 (25% of position)
TP3 @10%/$747 (25% of position)
Strategy Statistics from backtest since SOXL conception (no take profits)
Win%: 56%
Avg Win: 7.3%
Avg Loss: 4.65%
R:R: 1.58
