VIX Long Trade *5th Wave Potential*
Technical analysis supporting fundamentals of the 2nd wave of virus globally, unemployment rising etc. etc.
Technicals:
- Bullish supporting trendline.
- 4hr chart showing higher highs and higher lows.
- price looking likely to open at the lower trendline.
A higher low forming around the 26.00 level could be a good long trade entry to catch the next bullish wave upwards. Upper resistance zone at 36.00 would be a good long term target but near term I would target the -0.27 and -0.618 fibonacci extension levels and a new higher high.
Let me know your thoughts. Thanks.
Technicals:
- Bullish supporting trendline.
- 4hr chart showing higher highs and higher lows.
- price looking likely to open at the lower trendline.
A higher low forming around the 26.00 level could be a good long trade entry to catch the next bullish wave upwards. Upper resistance zone at 36.00 would be a good long term target but near term I would target the -0.27 and -0.618 fibonacci extension levels and a new higher high.
Let me know your thoughts. Thanks.
Trade active
Comment:
Nice pop yesterday, currently trading around 9% higher than the entry price yesterday. Looking to see how the weekly price closes tomorrow