VIXY / TVIX - Going Higher - Keep On Your Toes Here
VIXY/TVIX showing a Buy Signal on the Daily yesterday.
Yellow bull flag formation (kind of sloppy but its there).
Price currently broke out bullishly.
10WeekMA is reaching out farther by the day to reach price. Rate is currently $1 per day closer to price (which is fast).
If we cross 10WeekMA, price should continue higher.
Based on current rate, 10WeekMA should reach price in less than 1 week if we don't pullback.
Based on the action in VIXY, I feel that SPY/SPX has possibility to continue lower into Xmas.
Exits
-Pink wedge top around 19ish
-First gap fill around $14. May pause.
-Second gap fill around $18.
-Last gap fill around $20.
RSI trend should be watched closely for exiting trade or possible reversal.
VIXY/TVIX moves fast so keep on your toes if you want to keep those profits (or set your sell orders/stop losses).
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.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL.
Yellow bull flag formation (kind of sloppy but its there).
Price currently broke out bullishly.
10WeekMA is reaching out farther by the day to reach price. Rate is currently $1 per day closer to price (which is fast).
If we cross 10WeekMA, price should continue higher.
Based on current rate, 10WeekMA should reach price in less than 1 week if we don't pullback.
Based on the action in VIXY, I feel that SPY/SPX has possibility to continue lower into Xmas.
Exits
-Pink wedge top around 19ish
-First gap fill around $14. May pause.
-Second gap fill around $18.
-Last gap fill around $20.
RSI trend should be watched closely for exiting trade or possible reversal.
VIXY/TVIX moves fast so keep on your toes if you want to keep those profits (or set your sell orders/stop losses).
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.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.