I am going to put this out there once more as a long trade position, whether VXX or the 2x leveraged UVXY. As for a call position, I would have preferred enter that on the move below support today, the same one I suspect was our head fake move (used for timing ) and was saying yesterday that this was the only thing missing from the reversal process in VXX / UVXY.
Again, I like either as long positions, I'd prefer UVXY for the 2x leverage, but that's a very personal choice as far as risk tolerance goes.
Here are 5 charts of VXX, in nearly every one look at how much it has added just today alone and these are the "Flying " divergences only seen in VIX related assets that I spent almost 2 months waiting for.
1 min which is actually stronger than it looks here, I just wanted to show the area I suspect was out head fake move this morning as well as how much it added today alone on such a move.
This is a PERFECT example of the "Flying divergences" that we only see here and on a 5 min chart as well
This is how much VXX added to a 5 min chart today alone in leading divergence.
And here's the 10 min chart, I suspect both of these rounding bottoms are like 1 large "W" base as the second bottom almost always (90+% of the time) makes a lower low whereas technical analysis tells traders to look for a higher low, this is one of the many ways TA is used against traders and it makes a lot of sense from a Wall St. perspective.
Here's the 15 min chart and how much it added today alone as well as the rounding reversal process which I compare to an "Igloo with a Chimney", except in this case upside down. The head fake move is usually right at the very end , just before a reversal (to the upside in this case) and the averages don't argue with these charts nor do the Index futures as you saw yesterday stretching out to 60 min negative divergences.
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