Loading ...UVXY/SCO…
This is NOT a recommendation to take a trade now…
However, these descending wedges usually end up bullish…
SCO–Inverse OIL…
The daily WTIC chart has sliced through all support and negated divergences so far–not surprising with impulse moves. I got out last Friday, because #1 it was the weekend #2 the possible support on the daily WTIC chart…
If already short oil, keep riding until proven otherwise…
Distinct channels with 13/34 EMA crosses make this a rather straight forward trade…
Now SCO is back testing the upper trend line, what happens here determines st direction…
Ride it till it dies…
I always enjoy your charts Eagle. UVXY gave my rookie tail a real shellacking a year and a half ago. Thanks to Spock, I was able to redeploy what was left in to Nexus at the perfect time. Lesson learnt.
Absolutely Optional, UVXY requires precise entry and exit. One can double and easily triple their money WHEN the opportunity is right in just a few days…This is one to definitely wait for the trade and must be actively managed. When the time is right following the moving averages on the 15/30/120 minute charts is the preferred method. Soon, very soon…
Thanks for the heads up.
Just checked my $VIX charts again briefly, very large falling wedge on the weekly does seem to say there is a big move coming soon.
Posted charts.