From TradingView · · 1m
SoFi stock long trade setup with tight stop loss
A trader outlines a risky long position on SoFi Technologies with specific entry, exit, and stop loss levels.
In brief
A trader outlines a risky long position on SoFi Technologies with specific entry, exit, and stop loss levels. This SoFi trade targets $24 from a $16.20-17 support zone with a tight stop loss at $15.50. Originally reported by TradingView.
Risky SoFi long trade setup
A trader is proposing a long position on SoFi Technologies stock, acknowledging upfront that this is a risky trade.
Support zone at $16.20-17
The entry point sits in a yellow support zone between $16.20 and $17, where the stock is expected to find buying interest.
Tight stop loss at $15.50
The trade uses a tight stop loss at $15.50 to limit downside risk if the support zone fails to hold.
“Tight SL $15.5”
Price target set at $24
The upside target for this trade is $24, representing significant potential gains from the support zone entry.
“TP $24”
Wait for structure break confirmation
Alternatively, traders can wait for a daily market structure break to confirm the move before entering the position.
“wait for daily market structure break for confirmation”
The short version
This SoFi trade targets $24 from a $16.20-17 support zone with a tight stop loss at $15.50.
