Home Forums Members’ Forum VXX

Tagged: 

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • ronf
    Participant
    Post count: 8
    #12366 |

    Starting to show a stronger move to the upside.
    Wkly has an UD although still weak, BUT relative position of the MACD is leading the price.
    Day chart although still weak, has a change in the MACD its now flattening and starting to turn up. Relative position of MACD leads price.
    Hourly chart has a distinct pattern with a clear UD & the 8 X 21 & 50SMA intersecting with the 8 & 21. MACD is spreading and clearly above the signal line. relative position of MACD is over $21, so price still compressed.
    Lower time frames supported a move up and 15min shows a distinctive channel.
    Bought the Oct5 $20 Call at the bottom of the channel. Will add to position if it breaks thru next resistance level at $19.31.
    Will review at following resistance level of $19.50.
    Holding it overnight.

    ronf
    Participant
    Post count: 8

    Followup: Divergence on the 1hr did not last long as expected – got out of position when 1hr MACD stopped moving up. Made a small profit.
    The MACD on Day chart still at bottom of range so still weak. Path of least resistance is down for now.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.