$SOXX /USDT Perp – "Extended Downtrend – Short"**


**Trading Plan Short $SOXX
Entry: 498.5 – 499.0
SL: 501.5
TP1: 494.5
TP2: 493.5

SOXX is down -0.10% at 497.8, trapped below the 498.1 Middle Band after breaking down from 503.8. MACD is heavily bearish. TP targets the 494.4 Lower Band and the 494.5 low. SL above 501.5.
SOXX-1.72%
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OrderBookArtist
· an hour ago
MACD being heavily bearish does have some merit, but could shorting at 498 get squeezed?
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On-ChainSoilAfterTheRain
· an hour ago
Middle Band suppression is effective, but the 494 Lower Band has already been tested twice; if it can't break through, that would be awkward.
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WalletBotWarning
· an hour ago
SOXX's trend is closely correlated with the Nasdaq, so I'm staying on the sidelines ahead of tonight's CPI release.
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TickStop
· an hour ago
The stop-loss at 501.5 is a bit wide, bringing the risk-reward ratio below 1:1. I personally prefer waiting for a rebound before entering.
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