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Hello, today I will proceed with the analysis of SOXL. Before you watch the video, I would greatly appreciate it if you could give it a like. I also want to sincerely thank our followers for their kind comments and words of support. Currently, through Ain's Bitcoin Channel and Ain's Domestic Stock Channel, we are providing updates on the cryptocurrency market and the domestic stock market.
Please show a lot of interest in these two channels as well. Today, we will take some time to explore the possible scenarios for SOXL based on its position around the $30 mark at the end of April. First, regarding SOXL, I previously mentioned that the $30 mark was the point where the flat correction concluded.
From b to c, it forms another abc flat correction pattern. Through a previous video, I mentioned buying around the $30 mark. After the 1st wave's rise, there was a 2nd wave retracement, followed by a predicted 3rd impulsive wave, which eventually touched the target sell price of $53. In the past, I suggested $53 as the target sell price, and since the formation of waves 1 2 3 4 5 from wave 2 to 3 has appeared, there is a possibility of entering a phase of short-term corrective waves.
Therefore, I mentioned considering the ratio between waves 1 and 2 to estimate the duration and ratio between waves 3 and 4, during such times. So, if wave 3 has occurred, it suggests that a wave 4 correction may follow. However, if this wave 4 correction becomes excessive, it may not be a correction between waves 3~4, but rather a correction between waves 1 and 2.
Therefore, as you can see, after waves 1 2, there could be a correction following wave 3 in the sequence of 1 2 3 4 5. A further c decline may occur in the form of a first correction and rebound b wave. Therefore, I explained aspects such as setting buy points for additional corrections, temporal strategies for buying, and identifying the end of corrections in terms of timing and price range using the pattern of abc correction waves as an example.
It appears that the correction wave pattern might progress not in the form of 1 2 3 4, but rather as a progression between 1 and 2. However, even if it doesn't conclude in the form of waves 1 and 2, fundamentally, both NASDAQ and SOXL are expected to rise in common until the end of June, following the pattern of waves 1 2 3 4 5.
This was the key trading strategy in the last section. So if it goes like this again, 1 2 3 4 5, it will be 1 2 3 4 5. If we apply this to SOXL's current phase, the positions I mentioned in this video correspond to waves 1 and 2. 1 2 You must remember 1 2. 1 2 1 2 Here. 1 2 here again. Here we are again with waves 1 and 2.
You need to memorize this. So, starting from waves 1 and 2, if we proceed through waves 3, abc correction in 4, then wave 5 signifies a common rising phase. So, that's why the sell target of $63 was identified. However, if the magnitude of this correction wave comes out in the form of 1 to 2 instead of 3 to 4, then those who see the correction at this point, that is from 1 2 3 4, 1 2 3 4 5, those who see the completion of the 5th wave here, what did I tell you?
You would enter a short position at this point. I mentioned back in early June that if one does not understand the extension wave pattern, they would end up taking a selling position in this phase presumed to be wave 5. So, if 5 waves have emerged like this, a typical trader would expect a correction wave in the form of a b c falling until mid-July.
However, if the current phase concludes with waves ABC as a correction in wave 2, progressing through waves 3-1, 3-2, and 3-3, achieving waves 4 and 5 thereafter, and if a continuous upward trend persists in the form of waves 4 5, until late July as I have charted, those who entered selling positions after seeing waves 1 2 3 4 5 may not even escape despite nearing the peak, even though it reaches its highest point.
Therefore, I am explaining these aspects, and regarding the actual short position strategy, I will discuss it separately through membership videos before considering it at this moment. The key point is that I explained in my recent NASDAQ futures chart analysis video about the possibility of an upward movement in wave 3-3 and the corresponding rule points for that phase.
Therefore, the overarching premise at this current phase is that we are in a period of wave 3 progression, as long as $45 is not breached. Even if wave 3 concludes within wave 3, any subsequent correction would typically be a 3-4 correction regarding waves 1 and 2. Therefore, the premise at this current phase is that the correction would not be significant, as the amplitude of adjustment would be small.
Second, in my previous video, I mentioned the $45 reference point, and subsequently, I indicated a second reference point at $50 for waves 1 2, suggesting further upward potential. Based on $50, it is up 24% so far. This is a 41% increase based on $45. Based on $30, the current range is up 106%. After that, I marked it with a black line again and said it was $58.
I mentioned $58 as the standard here, and this shape is especially important. If a tail occurs, then this is the actual position where it should fall off. From a candlestick perspective, for typical investors, this is the phase where adjustments are typically observed. However, some may have taken a selling position at this point where it's unlikely to rise again, and they might have cut their losses as it started to rise.
So, after switching back to buying, it promptly dropped again, forming the textbook abc pattern. For those who don't understand wave counting, the peak phase can be quite unsettling. Therefore, observing this pattern, I mentioned waves 1 2 3 4 5 abc, indicating the completion of a textbook correction wave.
Thus, I suggested buying again around the $58 mark, where we are currently continuing with approximately 8% profit. If you observe now, there are indeed no discrepancies occurring at the hourly level. So now we are in the three-wave phase, creating 1 2 3 4 5 in the form of 12 3 4 5 again for 1 2 3 4 5 abc and 4 5 again.
So, this means there is still a possibility that we are currently progressing through waves 2 to 3. So, the reference point at this current position remains at $58. Actually, rather than strictly adhering to rule points, it's important to approach this from a candlestick perspective with intuitive judgment.
Secondly, the reason why the current rise in NASDAQ and SOXL might intensify further is because NVIDIA alone has been driving the market's rise up to this point. It has been a remarkably impressive and impactful development indeed. But what did I tell you? Even if NVIDIA enters a sideways phase, if small-cap undervalued stocks reverse to an upward trend and the overall market rises gradually, the index will rise more seriously.
I told you about those parts. So, the current position is a continuous upward trend until it breaks $59. The initial sell target of $63 was reached at that point. The next sell target is around the $70 mark, and SOXL shows the potential to maintain its upward trend until the second week of July. These aspects involve understanding how magnificent stocks move based on their counting in real-time, assessing whether SOXL is rising day by day or experiencing short-term corrections.
For instance, looking at the rise counts of TSMC and Microsoft the previous day, I anticipated that the index would rise further. Just based on what I explained in the video, it would be challenging for me to definitively discuss all aspects such as the rise of Microsoft and TSMC, or Tesla's 3-3 wave trend line break, that I am observing.
Therefore, what I can say at this point is that even if a wave 4 correction occurs, there is still potential for wave 5 to follow. This phase is based on counting extended waves for trading and there exists a second reference point, so there's no need to fear significant correction risks. I've managed to buy at all the low points for my current average position.
So, now it's a matter of holding on well, and I've explained why this current phase could still be a common rising period based on wave counting scenarios. It seems NASDAQ has risen significantly this time around. And many people must have made profits as well. But if you had 100 million won, depending on how confident you are in this market, would you be able to invest all of it?
or even though you think the market might go up, you feel anxious and uncertain, and some people say it will drop can you invest the entire 100 million won amidst this wavering? Or is it right to invest the entire 100 million won? In the end, how confident you are in this market, how well you understand it, how much trust you have, and the basis for that trust will determine how much of your capital you can invest.
Everyone, I've been discussing the overall five-wave rise through Elliott Wave analysis since last year, explaining the points of inflection where the market will rise and the areas where corrections will occur, including the extent of these corrections. my followers who understand these concepts and don't just think the market will improve because the economy seems to be getting better.
Wouldn't investors who speculate that interest rates might drop eventually, thinking "they'll rise someday," see a difference in their returns during that time? Currently, SOXL is forming bullish candles on the 4-hour chart. Such setups often indicate opportunities where adding to positions on the hourly chart could potentially strengthen the 4-hour chart from 2 to 3 bullish candles again.
In this current phase, it's more beneficial to verify if these bullish candles on the 4-hour chart are sustained from a candlestick perspective rather than approaching it strictly through wave rules. Particularly, SOXL is currently setting up another bullish candle on the daily chart. Therefore, this is a position where we anticipate pulling another significant bullish candle on the daily chart, as long as it maintains above $59.4, rather than strictly adhering to wave rules.
Therefore, at this current position, consider all the points I mentioned earlier today and summarize why we anticipate further upward movement based on $59 as a reference point. This understanding involves grasping insights into individual stocks. The assessment includes considerations such as individual counting for SOXL and NASDAQ, sell targets for extended waves, common upward trends, divergences, and trading volumes.
If you watch the membership videos, you'll find a wealth of additional analyses and individual stock insights uploaded there as well. If you want to achieve better profits in this ongoing uptrend extending into the second half of this year and beyond, I recommend joining the membership for more detailed insights and analysis.
You should join when I suggest it. Everyone, you must do as I tell you to achieve good profits and good results. I mentioned to just click on the channels one by one and at least skim through the content, but there are certainly some who haven't done so. So that's how much you're losing now. The market's flow is very organic and operates according to regular rules.
This period has seen continual updates from the second battery peak to the current low point. Cryptocurrencies have been rising from their recent lows. Even with short-term corrections, Bitcoin is poised to surpass 200 million this year. Let's review how the points I mentioned earlier unfold by the end of the year and see the results.
Everything will be as I said. Almost everything I mentioned earlier this year and last year has been achieved or is on track to be achieved. The counting for SOXL and NASDAQ is very clear and precise right now. This period may be difficult to revisit in the next 10 to 20 years. It's a period showing the peak of the rise.
Therefore, after this period of rise, the next correction expected in about two years is anticipated to lead into a medium to long-term bearish market trend. Hence, if one were to profit from this current upward trend by going long and switching positions near the peak, it could potentially yield significantly higher returns compared to typical investors. I will wrap-up today's video. Thank you.
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