iPath Series B S&P 500 VIX Short-Term Futures ETNArca
Description
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So looks like it might bounce up to $28 which is about where the EMA50 on the weekly time frame. Do you use the EMAs? I have set mine to 20 and 50 as there is a lot of price action interaction with these settings. (EMA - exponential moving average)
Also I have no fucking idea how this instrument works, im just noticing a pattern with that EMA which would be my target (to ride to that EMA or last high or low or S/R line. Generally thats how i set my targets
@DOMPET-CRUMPET, Excellent ....its also called 'the fear index' so right now we are at a turning point and are due a spike. $28 is a nice number
DOMPET-CRUMPET
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@MICHAELGILCHRIST, The fear index! what a great name. I will be watching eagerly
MICHAELGILCHRIST
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@DOMPET-CRUMPET, Yeah I think SPY gave us a clue yesterday as what is coming. Its running out of places to hide. I think there will be a change of trend on the weekly chart starting Monday ...shooting star reversal