Nailed today's big trade! We had a major breakout!!! We have moved up by 11% today. I was taking trades all through the morning before the breakout, and this trade below is from the breakout onward.
We bounced off the weekly hold level and weekly trend last week. With how much movement we have seen to the upside since then, I imagine we are looking for the topside weekly hold/break level. The hold is on the chart at the white arrow and is another 5% up. If price goes for the weekly break level, that is something like 12-17% in gains.
Just keep it in mind that we are at the 4hr hold level at 4pm on a Friday. Monday morning will open down, and then test that 4hr hold again. If the hold succeeds we are coming to back test the 4hr on the bottom side of the chart.
Editor note: Traders! You can review the original post for today’s successful SOXL trade by following the embed below!