[VVIX] Holding Back UVXY Like it Bout to Brawl... WATCHOUT!
VVIX is the reason UVXY is staying low, this 6M downtrend channel is very comfortable for Price Action but it is gradually grinding away into the long term horizontal supports as well as the 1.5Y upchannel which has the most Price Action by far of all the up and downchannels.
VVIX can only go so low so the horizontal and uptrends have much more power in this dynamic meaning it's always the downtrend S/R that loses the battle.
Right now the most powerful upchannel is merging into the most powerful downchannel and Price should spike upon breaking above these major S/R market wedges in addition to the falling wedge here, which is likely the catalyst leading into HH peaks after breaking above each ensuing market wedge after that.
To add fuel to the fire, light blue is the strongest downtrend Core S/R and in this case acting as a powerful support to launch from as VVIX transitions from the downchannel to the upchannel.
Inspired by Aug 16th OG idea:
![[VVIX] EMA Model... Narrow BB Could Spell DOOM for Market!](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
VVIX can only go so low so the horizontal and uptrends have much more power in this dynamic meaning it's always the downtrend S/R that loses the battle.
Right now the most powerful upchannel is merging into the most powerful downchannel and Price should spike upon breaking above these major S/R market wedges in addition to the falling wedge here, which is likely the catalyst leading into HH peaks after breaking above each ensuing market wedge after that.
To add fuel to the fire, light blue is the strongest downtrend Core S/R and in this case acting as a powerful support to launch from as VVIX transitions from the downchannel to the upchannel.
Inspired by Aug 16th OG idea:
![[VVIX] EMA Model... Narrow BB Could Spell DOOM for Market!](https://s3.tradingview.com/v/v5SWkji9_big.png)
Data analyst with a passion for best fit lines B)
