$SOXL

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The market structure has shifted aggressively from a consolidation phase into a strong bullish expansion, evidenced by the price breaking out of the Bollinger Band basis and upper band while maintaining structure above the moving averages.

The K-lines show a massive impulsive green candle that broke the previous resistance of 43.58 and pushed rapidly toward 57.84; the price is currently retracing slightly to test the upper Bollinger Band at 57.49, which now acts as dynamic support.

Trading plan
My trading plan is to look for long entries on pullbacks toward the 55.00–55.60 zone, provided the price does not break below the middle Bollinger Band (MB) at 55.83 on a closing basis.

I predict that after this explosive move and the current high-volatility retracement, the price will likely consolidate between 55.00 and 57.80 before attempting another leg up to test the 64.73 resistance level, though the overextended nature of the move suggests caution.

What trade plan I follow and why❓️

I am following a trend-following pullback strategy because the macro trend is clearly bullish, and the massive volume (1.84M on the volume bar) validates the move; buying dips near the upper Bollinger band offers a better risk-to-reward ratio than chasing the top.

When I start my trade❓️

I will start my trade only when I see a 1-hour candle close that holds above the 55.69 support level and rejects lower prices, ideally with the MACD histogram turning green again.

The chart currently shows a "Shooting Star" or "Doji" formation at the highs (around 57.84), indicating indecision and a potential short-term reversal or pause in the uptrend.

The final verdict is Bullish with Caution; the momentum is undeniably strong, but the asset is highly overbought on the 1-hour timeframe, so waiting for a confirmed pullback entry is the safest play.