VXX hang in there and staying right on the support level. MACD starting to move from green to red, which means a drop may be coming. I am still have this gut feeling that it wants to drop to the bottom of the trading channel before we see it make a big rally.
Just in case you care where my trend lines originate from. Not a good view for seeing...
Leg C satisfied leg AB .786
Target is BC 1.618 $17.19
Study negated if origination 36.01 exceeded.
VXX is just above a Bearish channel, anything below 23 I will add more penny puts.
Oscillation remains below 20 on a daily chart.
No one is really betting against the VIX which is odd.
I've been thinking of ways to hedge my trades to mitigate risk as my trades are mainly naked sold options contracts. This CALL trade is the first live trade of a hedge theory I came up with. If everything goes well this should expire uneventfully.
This Trade is paid for using 15% of the total Premium from the 2 other Nov naked option trades.
I bought the...
VXX has been falling hard the last week. Riding down and jumping around on the trend lines. Currently touch the last major S/R from end of Feb. Is this going to be the end or will it drop a little lower to the bottom of the channel before rallying?
A look at the current VXX trading channels. Currently riding a long the support of the major channel. There looks to be a small down channel where it may do a deeper test of support. If this pattern holds, then VXX is making higher lows. Does that mean we will see a new set of higher highs?
This one is very interesting.
I'm thinkin this will hit the bottom purple line again in another big crash (or "crash" over many months too), maybe about half the size of March crash.
Looks like it's almost exactly repeating March mini doubletop at the peak too in addition the bigger, more obvious doubletop.
Let's see what happens! B)
Got so caught up in SPX I neglected the Volatility Matrix! Haven't even peeked since my last post weeks ago but everything looking great still.
We have Large BUYs on all 4 of these + VXN with only one of the 5 having any significant SELL signals, VIX, with a Small SELL and brief Short Entry Window (but still leaning pretty BULLISH overall).
This suggests an even...