[UVXY] What a SHOW We Got Today... Drumroll Please... B)
I really shoulda had more confidence in that wedge I was callin!
Downchannel trend (yellow) converging with the core decay S/R (strongest S/R since crash, magenta) and the 7M downtrend S/R (red) was bound to be eventful.
It fckin launched price like crazy!
Not sure how it's gonna play out from here, could be tricky to catch the peak. I'd still like to cash out most my position in the 30's and odds still in favor of that but anything around that $25 white line is a viable TP. Hell, now may be a good time to start scaling out but I'm gonna see how it plays out tomorrow before making any rash decisions.
$39 white line lookin like the max here cuz of backwardation (people expecting it to be volatile already). On the plus side we have liquidity back on Team Bear, which is reassuring.
FWIW, my RSI chart is makin UVXY look tapped out so no shame if you cashed already.
Still trying to clear my brown wall, let's see!
Oh and yea when we dropped to the 16's it was lookin suspiciously like a common volatility swing dip pattern as I detailed in another idea:
![[UVXY] Could Be Classic Swing Dip, Climb and SPIKE Setup!](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
Downchannel trend (yellow) converging with the core decay S/R (strongest S/R since crash, magenta) and the 7M downtrend S/R (red) was bound to be eventful.
It fckin launched price like crazy!
Not sure how it's gonna play out from here, could be tricky to catch the peak. I'd still like to cash out most my position in the 30's and odds still in favor of that but anything around that $25 white line is a viable TP. Hell, now may be a good time to start scaling out but I'm gonna see how it plays out tomorrow before making any rash decisions.
$39 white line lookin like the max here cuz of backwardation (people expecting it to be volatile already). On the plus side we have liquidity back on Team Bear, which is reassuring.
FWIW, my RSI chart is makin UVXY look tapped out so no shame if you cashed already.
Still trying to clear my brown wall, let's see!
Oh and yea when we dropped to the 16's it was lookin suspiciously like a common volatility swing dip pattern as I detailed in another idea:
![[UVXY] Could Be Classic Swing Dip, Climb and SPIKE Setup!](https://s3.tradingview.com/s/sv5bHnic_big.png)
Comment:
OG Idea:
![[UVXY] Super Mario BRO$: Playin' For REAL Gold Coins Now! B)](https://s3.tradingview.com/k/k91oEkrL_big.png)
Data analyst with a passion for best fit lines B)
