12/04 UVXY long
Hello traders,
It’s time to take a look at UVXY again. Here are a few reasons why you might consider buying VIX for hedging or profit. Either way, it’s not a bad idea to allocate some funds:
1. Potential Yen-Carry Trade Unwind: There’s a strong possibility we’ll see another round of yen-carry trades unwinding as Japan prepares for another prime rate increase.
2. SPY Resistance Levels: SPY is approaching the 6100 area, which is a key resistance zone. I anticipate a pullback to the 6000 area, possibly testing it tomorrow or Friday. This movement could push UVXY toward the 21 level in the short term.
Additionally, UVXY is a good mid-term hold since SPY has a higher probability of moving downward than upward in the coming days.
May the trend be with you.
AP
It’s time to take a look at UVXY again. Here are a few reasons why you might consider buying VIX for hedging or profit. Either way, it’s not a bad idea to allocate some funds:
1. Potential Yen-Carry Trade Unwind: There’s a strong possibility we’ll see another round of yen-carry trades unwinding as Japan prepares for another prime rate increase.
2. SPY Resistance Levels: SPY is approaching the 6100 area, which is a key resistance zone. I anticipate a pullback to the 6000 area, possibly testing it tomorrow or Friday. This movement could push UVXY toward the 21 level in the short term.
Additionally, UVXY is a good mid-term hold since SPY has a higher probability of moving downward than upward in the coming days.
May the trend be with you.
AP
העסקה בוטלה באופן ידני
Reached my initial target and closed my position. With the FOMC meeting tomorrow, I expect increased volatility. I think SPY might move higher and could reach 6200 by year-end. That might be the ideal time to go all-in on UVXY.
כתב ויתור
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