$SOXL I haven’t been in a rush to close this short position.

SOXL has been falling steadily from above 140 and is now around 115. This short was opened near 142.96, and the timing pretty much nailed this leg of the drop.

On the four-hour chart, after the price broke below the trading range, it accelerated downward. The moving averages have turned down, and the MACD bearish crossover has been continuously diverging—bears still hold the initiative.

I didn’t wait for the price to fall further before chasing the short. I set it up early when the trend started to weaken. A lot of profit comes from the trend itself, not from chasing after it.

That said, it’s already getting close to the prior low support, so it isn’t suitable to blindly keep shorting. I’ll focus more on opportunities after a rebound.

If you missed the move, don’t worry—markets never lack opportunities.

I’ll keep sharing my chart read and current strategy in the main base. Welcome everyone to exchange ideas together.

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