vix setup.. short..
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Hey guys,
It's been a couple of weeks since I put out an update. I am seeing some interesting indicators in the market as I come back to studying these charts. Today we'll take a close look at the dollar, the vix, and we'll also jump to Bitcoin, and talk about unemployment and OIL prices. These are all valid indicators of future price action in the market and if...
We are still bearish here, the price also took out liquidity below previous weekly low, but we have a little bit to wait for filling the imbalance, after that I will look for longs if we have a confirmation. Be patient!
Very bearish vix.
The deal is that the fed will go back on their aggressive stance within the next two months, probably after we get a lower CPI but it might be even earlier than that. The yield curve has been telling us this for a while. Not saying there wont be more hikes.
Here I expect bearish price action as price left behind a lot of imbalances that have to be filled, as well we can see that price took out the liquidity above equal highs. I expect the price could go for previous weekly low liquidity and to close imbalance around price level 25.00. I will look only for shorts on VIX, this means longs on indices.
✅ Here I am looking for a long position if the price take out the liquidity below PWL (previous weekly low) and rejects from the daily bullish orderblock + institutional figure 4200, also the price has to fill huge imbalance left behind.
✅ Here on VIX we are very bullish, but I expect the price could go a little bit higher to close the imbalance and to take out the liquidity above PWH (previous weekly high), then to reverse from the institutional figure 30.00 for filling the huge imbalance left behind.
Nothing to add here this is just 101 technical analysis. Breaking 50D MA
is a bearish sing. We still have higher lows which tills us that up trend
is still ON.
Just an observation pointed out on RSI . Patterns in threes. Vix needed a breakout after bouncing off its significant trendline and produced a triple top with a lower momentum, meaning same price with less strength. It's losing steam and that indicates a rally next week to me.
VIX finally broke 2020 support levels & is struggling to pass it as resistance. Will trade sideways while money flows back into stocks & the correction eases throughout the month. The market wants to go even higher.
