UVXY Potential Early Bear Flag Channel Entry at Moving Averages
Updated
The UVXY is currently trading at the 89 Day EMA among other Moving Averages that it's often reversed from; if it reverses from here again and hits the bottom of the Potential Parallel Channel that will confirm the Validity of the Parallel Channel. If it breaks down from this Parallel Channel that will be a Bearflag breakdown that could take it down anywhere betwen the 1.618 to even the 2.618 which should signal a rally in the SPX. For the time being this is a speculative early entry.
Trade closed: target reached
Closing a little early but got most of the gains out of it. UVXY is going to reverse split this week so i'm done trading it for now.
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