Bring back technical analysis . Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me something. I don't care if we're on the same side of the trade, or on opposite sides, but at least justify your position?
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: Wedges tend to retrace until their beginning which conveniently rests at the 23% fib zone. Elliot wave would have it that we should see some ABC retracement pattern and I believe that these points can best be predicted through the different fibonacci levels and consolidation zones along SOXL's price history.
Conclusion:
Short term - Bear
Medium term - Neutral
Long term - Neutral
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: Wedges tend to retrace until their beginning which conveniently rests at the 23% fib zone. Elliot wave would have it that we should see some ABC retracement pattern and I believe that these points can best be predicted through the different fibonacci levels and consolidation zones along SOXL's price history.
Conclusion:
Short term - Bear
Medium term - Neutral
Long term - Neutral
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