Top 5 Weekly Trade Ideas #5 - VX Trend Break
VX tried to breakout recently, but just couldn't do it. Looks like a triple top at 18.50 and we also have an uptrend break to the downside. Watching for another move down to the 16-15.80 area, that will be critical.
If it can reclaim the uptrend, upside target is still 18.50 until it breaks. Pretty large range from 18.50 - 15.80 as volatility has picked up so don't want to get baited by a quick move. Will look for confirmation above or below the range, but for now VX is collapsing again.
If it can reclaim the uptrend, upside target is still 18.50 until it breaks. Pretty large range from 18.50 - 15.80 as volatility has picked up so don't want to get baited by a quick move. Will look for confirmation above or below the range, but for now VX is collapsing again.
You reap what you sow.
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.
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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