SOXL Semiconductor 3 X Bull ETF Potential Move Up to 200
SOXL, Direction's Triple Bull Semiconductor ETF,
has formed what appears to be a powerful V bottom pattern formation
during the month of August with the chart pattern clearly showing
a bullish breakout above 170.50, from the recent low below 139,
would project the ETF back towards it's all time high at the 200 price area.
Semiconductor stocks are a market leading industry group have lead the recent sharp rally,
and a bullish breakout would certainly be a bullish continuation signal for the market.
I would use this ETF as a Bullish Hedge, against further advances in the market this fall.
STOP is at 138.00, 30 points away, so size position accordingly.
THE_UNWIND
has formed what appears to be a powerful V bottom pattern formation
during the month of August with the chart pattern clearly showing
a bullish breakout above 170.50, from the recent low below 139,
would project the ETF back towards it's all time high at the 200 price area.
Semiconductor stocks are a market leading industry group have lead the recent sharp rally,
and a bullish breakout would certainly be a bullish continuation signal for the market.
I would use this ETF as a Bullish Hedge, against further advances in the market this fall.
STOP is at 138.00, 30 points away, so size position accordingly.
THE_UNWIND
Nota
Bullish Hedge, as stated in my post. Please note.Hedged by short position on SOXS, 3 X Short Semiconductor ETF
I often hedge a long and short position in my trading account,
when I am not sure of the pending next major move in market direction.
I also do this also as to not be 100% exposed, long/or short side
if I am wrong in the market direction breakout.
THE_UNWIND
Nota
Hedge Trade Cancelled.Sell SOXL 165.18 CL. 8/30/18
Buy SOXS 9.37 CL 8/30/18
Nota
Update on Hedge :Closed Long Trade SOXL at 160
Added to Short SOXS Unhedged
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.