On my last post about UVXY I noted the distinct "trade of the week" theme. The idea that volatility would expand seemed to be obvious to everyone thus a trade on UVXY long seemed to be the play. Opportunity is rarely so obvious and that was why I suggested caution.

The Trump tweet of last week probably got a lot of folks in the trade excited to see profit and be validated but it was short lived. In fact, in only served to bring UVXY to a technical level; the 50% retracement of the range it has been in for the last few weeks.

Now things are not going well for the trade. I hate to see traders lose money but I hope they learn...
Beyond Technical AnalysisretracementlevelsSupport and ResistanceUVXYVIX CBOE Volatility Index

"Be to others the person you needed to meet 10 years ago"

Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Juga pada:

Penerbitan berkaitan

Penafian