I was watching the 19.20 level before FOMC and VX didn't even get close. However, it is holding up better than I'd expect on a day like today. It has been pretty flat lately rather than only going down like in the summer.
It has a falling wedge that may lead to a big breakout and test of the 19.20 area. QQQ is at some pretty important resistance so given that it's rejecting there and VX is doing this I would be cautious longing here. I'd be cautious about chasing a move like this in general anyway.
If we see VX break below this wedge, I'd expect more upside for equities and for VX to go back down to 16.45. That would be a good spot to consider taking profit on longs if that plays out. If it does breakout to the upside, look out below.
It has a falling wedge that may lead to a big breakout and test of the 19.20 area. QQQ is at some pretty important resistance so given that it's rejecting there and VX is doing this I would be cautious longing here. I'd be cautious about chasing a move like this in general anyway.
If we see VX break below this wedge, I'd expect more upside for equities and for VX to go back down to 16.45. That would be a good spot to consider taking profit on longs if that plays out. If it does breakout to the upside, look out below.
You reap what you sow.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.