SOXS Descending Wedge Long

Direxion Daily Semiconductor Bear 3x SharesArca

Description

⋅ Feb 1, 2023 12:52 PM

Monitor for a breakout of the descending wedge. An impulse to the $33 range should follow with a bullish breakout.

(I am watching 1H MA50 also).

Good Luck

Trade active

⋅ Feb 1, 2023 3:47 PM

Notice SOXL above at resistance. May continue to travel higher, but SOXS had dropped and wanted to take advantage of that resistance.

I added SOXS at $22.40, will add more if it drops lower.

Comment

⋅ Feb 1, 2023 7:20 PM

add some more at $22.10

Wedge

Comments

ChartProphet

⋅ Feb 1, 2023 5:12 PM

Maybe a shakeout before a breakout? Nice chart work!