"Yesterday, I identified a falling wedge pattern on the VIX 30-minute chart, signaling a potential bullish breakout. The price respected the key support levels at $12.72 and $12.34, forming a strong base for the move upwards. The breakout occurred as expected, with the price surging to $13.85, hitting my target zone.
Key Analysis:
Pattern: Falling Wedge (Bullish Reversal)
Support Levels: $12.72 and $12.34
Breakout Level: $13.22
Target Achieved: $13.85
This move was supported by increasing momentum as the price exited the wedge, confirming the breakout. A textbook example of pattern recognition and technical analysis in action!
#VIX #Trading #Breakout #TechnicalAnalysis #Bullish #Stocks #Investing #MarketVolatility
Key Analysis:
Pattern: Falling Wedge (Bullish Reversal)
Support Levels: $12.72 and $12.34
Breakout Level: $13.22
Target Achieved: $13.85
This move was supported by increasing momentum as the price exited the wedge, confirming the breakout. A textbook example of pattern recognition and technical analysis in action!
#VIX #Trading #Breakout #TechnicalAnalysis #Bullish #Stocks #Investing #MarketVolatility
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.