[UVXY] Is This the Next Spike Setup?
Updated
Price Action has been erratic af since it broke out late Jan.
Lookin like a giant 3M coil.
Let's see.
Lookin like a giant 3M coil.
Let's see.
Note
Well that escalated quickly... got our green line break and came to rest exactly on the Up Megaphone bottom (now yellow for easier viewing).Everything aligning to March 10th about right where we'll get our volatile red line X...
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Pretty ironic when volatile Price Action doesn't increase volatility, guess it's a tad slow and inconsistent for UVXY, but I'm digging the coil theory here. The tip should move up pretty slowly as it's wound tightly with lots of tension... until it snaps (red line).Note
This is the FW to watch...Note
GL ALLNote
That FW played out nicely...Note
Hit our buy zone, only time can tell how this will play, should still have another spike due this month...Note
Ok here we go, this red fractal has been highly reactive. Last X took a couple weeks to take shape but resulted in the last $15 spike from $9 and before that we spiked from $15 to $23 on X...Note
Odds of this spike working out getting longer, market breadth quashed volatility on the last drop, global markets are technically extremely stable right now until the very second they are not...
Data analyst with a passion for best fit lines B)
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