VIX - Be Prepared!
VIX is sitting around strong support (18-20). NOW WHAT?
VIX has been trading inside this big range for a while (between 42-45 in red and 18-20 in green).
Now VIX is sitting around the lower bound of the range 18-20 (support) so we will be looking for buy setups on lower timeframes.
Unless the green support is broken downward with two bearish Daily candles, then a movement till our lower blue support would be expected.
But before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
As per my trading style/plan:
I will be waiting for reversal buy setups (like a double bottom, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
VIX has been trading inside this big range for a while (between 42-45 in red and 18-20 in green).
Now VIX is sitting around the lower bound of the range 18-20 (support) so we will be looking for buy setups on lower timeframes.
Unless the green support is broken downward with two bearish Daily candles, then a movement till our lower blue support would be expected.
But before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
As per my trading style/plan:
I will be waiting for reversal buy setups (like a double bottom, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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