VXX short prep time #4 didn't happen since we didn't really get to the resistances. But we have satisfied the downside target as outlined in the idea. This means, we need to start looking for the next set of resistances.
In this case, I am actually going long VXX into the 34 resistance because of how the indicator is forming higher lows, while price is just hanging around. This to me, implies bullish behaviour
Of course, at the yellow resistances, I will start initiating short positions. But in this case, I am going small size since the broader markets seem to be in a pretty interesting position
In this case, I am actually going long VXX into the 34 resistance because of how the indicator is forming higher lows, while price is just hanging around. This to me, implies bullish behaviour
Of course, at the yellow resistances, I will start initiating short positions. But in this case, I am going small size since the broader markets seem to be in a pretty interesting position
Note
This time, I am not as confident about further downside since we could well be making a pretty longer term bottom on VXX here (the C wave down on SPX -- as in my other chart)Trade active
Got to the resistance todayNote
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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.