[UVXY] Volatility Treasure Map... Dialing in the SPIKES!
UVXY just caught at the strongest recent S/R line.
That green S/R line was not drawn, it was copied directly from the main S/R I drew on the previous spike and downtrend... a Trend Fractal.
That middle red line is the strongest downward S/R and Price just broke above that, which is a little bullish.
However because it is at the bottom of the strongest recent support, we'd still like to see Price put some distance between itself and the support.
Should be a fun journey!
That green S/R line was not drawn, it was copied directly from the main S/R I drew on the previous spike and downtrend... a Trend Fractal.
That middle red line is the strongest downward S/R and Price just broke above that, which is a little bullish.
However because it is at the bottom of the strongest recent support, we'd still like to see Price put some distance between itself and the support.
Should be a fun journey!
Data analyst with a passion for best fit lines B)
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