iPath Series B S&P 500 VIX Short-Term Futures ETN

VXX Long Trade

Updated

The main reason to be bullish in an instrument that is -99.99% down and continues to depreciate all the time is that VXX usually sees explosive moves when the S&P 500 declines, and the moves in VXX typically far exceed the movement in the S&P 500. And so as the S&P just made lower high and lower low and we want to protect our portfolio from the possible upcoming drop which is obvious with the fundamentals around with spiking inflation and interest rates and just technically we can expect -150$ drop in the index, and if we break this resistance level than we can expect an even bigger decline and the possible Take Profit level could be placed even higher, on the other hand, it is a very volatile instrument and it is preferable to be more conservative in taking profits.

Entry 26$
SL-23.50(1.50$)
TP1-30$ :Risk-Reward 1.50
TP2-36$ :Risk-Reward 3.90

Trade closed manually

We saw S&P respecting the 4150$ level which is a sign of a possible upside move so closing this hedge trade will be the best option here.

Elite_Forex

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