expecting additional volatility, but a lower high (UVXY)

uvxy is trading around the .618 of extension. we are low enough to say that vix shorts are most likely covering, but we have retraced enough to say a lower high is likely as well.
targets are 18.54 and 15.82
as long as were keep closing 15 minutes above 17.69 i would be long, and expect the downtrend to continue as long as we keep closing below 19

Comment:

changing long target to 18.34

Comment:

*edit* i posted the incorrect levels on my replacement fib extension
those levels should now be 17.22 17.86 (not 17.56), and 18.49
refer to the chart below for those levels

Comment:

note that my forecasts have not changed as those are based on trends in market indices including but not limited to the vix

Trade closed: target reached:

long target almost reached i would close long here as UVXY can have large moves and then fall off the trend very quickly