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VXXB- Continued from VXX chart 3 days ago. SPY SPX still in Bear

A few days ago, a chart showing the expected drop in VXX into the buy zone hit target buy zone perfectly! (Remember the VXX has been changed to VXXB) I'm long on VXXB.
The story for the Bear market continues. Although most traders are hugely bullish, the VXXB disagrees and is still in the OFP channel (dark green) with an upward slope. Remember the VXXB usually moves opposite of the market. So an upward sloping VXXB means the SPY SPX is in a downward trend!
The use of the VXXB points out the market highs in a zone, usually with in a few days or less of the actual price.
Recently we hit the little (red) Bat pattern which gave us a nice buy point. Now we simply ride the VXXB up in the trend until we see the reaction line break (red line shown).
Of note since this is the start of an anticipated 5th wave up, we may see the green Buy Line "bumped a few times, as it might widen the channel a bit.
Please look at the proposed black channel. This may be the actual slower upward move to the "finish Line" near the bigger (Pink) Bat Pattern completion around 50.13. Sometime in late March 2019?
Old Fart thoughts... Still in a bear market!
- Gotta go now, "Nurse Diesel" is after me again :)
The story for the Bear market continues. Although most traders are hugely bullish, the VXXB disagrees and is still in the OFP channel (dark green) with an upward slope. Remember the VXXB usually moves opposite of the market. So an upward sloping VXXB means the SPY SPX is in a downward trend!
The use of the VXXB points out the market highs in a zone, usually with in a few days or less of the actual price.
Recently we hit the little (red) Bat pattern which gave us a nice buy point. Now we simply ride the VXXB up in the trend until we see the reaction line break (red line shown).
Of note since this is the start of an anticipated 5th wave up, we may see the green Buy Line "bumped a few times, as it might widen the channel a bit.
Please look at the proposed black channel. This may be the actual slower upward move to the "finish Line" near the bigger (Pink) Bat Pattern completion around 50.13. Sometime in late March 2019?
Old Fart thoughts... Still in a bear market!
- Gotta go now, "Nurse Diesel" is after me again :)
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.