VIXY - Low Risk Entry


The trade ideas below are meant to be low risk entries for bearish bias after Jan. 1st, expecting market pullback from capital gains profit-taking.
Please let me know if you have any questions, or have another idea to share with others.
I really appreciate all comments and inspiration/ideas from others.
I will update entry prices on Monday 12/30 if things change or I get filled.

Chart Details
VIXY is almost at the end of the current shoe/banana pattern (repeating in chart)
RSI on Daily is turning up. Need to see price breakout of pattern around $12.85 to confirm bullish .
Weekly RSI trend is bullish wedge . I find VIXY RSI patterns are also useful for breakouts.
Daily trend dots show bullish trend is next and close to turning bullish .
Two low gaps to fill at $12.50 & $14.80. This is where I would probably exit the trade listed below.

Entry Options
2 choices - Low Risk. Each leg of any spread below is 65% or greater POP (probability of profit).
-Jan 17 expiry. 12/14 Put Credit Spread. Credit of $1.60 or more. Max risk/loss $39.80. Max gain is full credit of $160. Exit at 50% profit or your risk tolerance.
-Jan 17 expiry. 12/15 Put Credit Spread. Credit of $2.60 or more. Max risk/loss $40.00. Max gain is full credit of $260. Exit at 50% profit or your risk tolerance.
I prefer higher credit and keeping shorter term. Rather than lower spread (12/14) and thinking I will keep max credit at expiry.
My preference here is the 12/15 - same risk, more reward. Not keeping till expiry.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC .
Trade closed: stop reached: VIXY getting pushed down.
Back to assuming that Fed Repos running out on 1/14 may be better catalyst for entry here.


I'll start loading up on 02 Jan... Thursdays tend to be weakest and tax selling will start then.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out