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axelroark

VIX Failed Breakout into Bear Wedge

Short
Volatility S&P 500 Index (CBOE:VIX)  
axelroark Updated   
CBOE:VIX   Volatility S&P 500 Index
Trend Analysis Chart Patterns VIX CBOE Volatility Index VXX short
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trendanalysis chartpattern vix vxx short
VIX formed a massive bull wedge from Dec 24->Jan 19 highs, but the breakout has not been sustained, and it has struggled to maintain DTL support. It's also forming a bear wedge that could result in a massive breakdown. Target 16-17.
Comment:
In the 30 min since I've posted this idea, VIX once again broke DTL support, and is now breaking through the wedge.
Comment:
Continued to break through DTL and even 19.75'ish demand levels after hours.
Trade closed: target reached:
Reached target of 17'ish with plenty of room to fall still. Successful idea.
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