Knock, Knock, who’s there??? Volatility rise!! 📈 Long on UVXY

30 thg 12, 2020

Hi fellows, as many of us expecting stock market correction on main indicies, finally there are some signs of rising volatility in near future. Yesterday strong rebound of VIX is some fresh air in my face :)
UVXY is one of instruments you can participate on rising volatility or hedge your portfolio in risk off days. Today and next few days will be risk off very likely.

So here is my idea.
Yesterday price action on UVXY was pretty strong. Its rebounded from strong supply area 10.20-10.60 and bounce back to rising trendline. Now sitting at key support 11.05. You can see rebound is supported by very clear defined divergence on long term CCI indicator.

Here is my trade:
------------------------Trade setup ---------------------------
Entry: 11.05
Stop Loss: 10.77
Profit target: 12.22
Time stop: 5 days
------------------------------------------------------------------

If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.