Another possible Head & Shoulder
Good day folks,
Looks like the market wants to go up. Is it going to last? I don’t know, but from what I can see on VXX, the pain is not yet over.
Basically, if this H&S materialize, the market could go higher for the next 2-3 days, then making the right shoulder would bring it lower. Pretty much flat for the next few days until next week, then we could see more movement on either side.
I’m a little bit late imo to trade the head drop in VXX at this time. I prefer to wait and trade the right shoulder both sides.
*Keep in mind that the last H&S in VXX did not sell, so better to wait for clear movement.
Thank you,
Looks like the market wants to go up. Is it going to last? I don’t know, but from what I can see on VXX, the pain is not yet over.
Basically, if this H&S materialize, the market could go higher for the next 2-3 days, then making the right shoulder would bring it lower. Pretty much flat for the next few days until next week, then we could see more movement on either side.
I’m a little bit late imo to trade the head drop in VXX at this time. I prefer to wait and trade the right shoulder both sides.
*Keep in mind that the last H&S in VXX did not sell, so better to wait for clear movement.
Thank you,
Nota
With the rally we got after the Fed speech, i think it is most likely that VXX drop further, around 34, and make a smaller right shoulder. Anyway, pure speculation at this point. I'm gonna update once we have a reversal or cancel.
Trade attivo
Right shoulder in the making.Nota
unless the market starts selling, there will be no right shoulder.Nota
Finally some signs of weakness in the indexes. For tomorrow, I think the indexes will be going down for the first 2 hours, then go back up for the next 2-4 hours. I think the best time to be long VXX would be between noon and 2. We will see. Have a good evening,
Trade chiuso manualmente
This is it; this was a small shoulder...
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