failing double top or continuation (UVXY)
Updated
if we fail the double top, and break 18.34 confirming a downtrend with a lower high, or immediately continue bear vix, im fine with selling volatility here.
if we immediately continue over 19.17, or we set a higher low over the .382 of the bounce and break the high i would stay long vix for the time being if multiple sectors are continuing to make new lows simultaneously.
vix looks like such a tempting bull trend on many larger timeframes. the weekly is shaping up to be a great reversal from lows, but indices also look equally extended though to the downside.
if we immediately continue over 19.17, or we set a higher low over the .382 of the bounce and break the high i would stay long vix for the time being if multiple sectors are continuing to make new lows simultaneously.
vix looks like such a tempting bull trend on many larger timeframes. the weekly is shaping up to be a great reversal from lows, but indices also look equally extended though to the downside.
Trade closed manually
cutting the short loose. who can say what will happen tonight. id rather not deal with it.
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