Battle of the VIX 7/30/2020
From the looks of it, I was right that there would be a volatility jump somewhere between 7/30 to 8/4. I was right that the high liquidity is drowning the VIX. I was also right that the VIX cannot sustain a volatility run unless the dollar strength bounces. Volatility got dampened when the dollar sank again.
What I was wrong is that I was expecting the volatility jump to actually start on 7/31 which I missed my TVIXF trade. Oh well. There will be more trades.
I am trying to make a judgement call here. I can clearly see that the VIX jumped. However, does that count as breaking the wedge? Should that wedge resistance stay or get adjusted to that most recent candle wick?
I'll keep the wedge resistance for now. I'll get my answer from 7/31 to 8/4. I'm not confident enough to play with TVIXF or UVXY at this point. I will need another volatility jump to confirm the price action.
What I was wrong is that I was expecting the volatility jump to actually start on 7/31 which I missed my TVIXF trade. Oh well. There will be more trades.
I am trying to make a judgement call here. I can clearly see that the VIX jumped. However, does that count as breaking the wedge? Should that wedge resistance stay or get adjusted to that most recent candle wick?
I'll keep the wedge resistance for now. I'll get my answer from 7/31 to 8/4. I'm not confident enough to play with TVIXF or UVXY at this point. I will need another volatility jump to confirm the price action.
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