VIX; Bearish on the VIX?

HEADLINE: Looking for short confirmation on the VIX
TICKER: VIX

SUMMARY: Waiting to see if the current support level for the VIX will fail and our strategy will confirm a short on the 4 hour.

STRATEGY USED: Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping


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DESCRIPTION:
1. The current trend on the VIX is still bullish according to Fractal Trend (background color Green).

2. Our Scalper went natural (no bar color) March 20th (White line) ending a long signal being given since Feb 21st.

3. The Breakaway Scalper then began having a short bias (red bar color), although this was clearly a good short, our strategy requires Fractal Trend and Breakaway Scalper to agree and thus we have not yet had a confirmed short signal on the 4 hour.

4. Currently we are finding support at the bullish order block at S1.

5. We are looking for S1 support to fail and for Fractal trend to confirm a short trend alongside Breakaway Scalper.

6. If S1 holds we will be looking for a confirmed long bias from Scalper instead and will be looking for a reaction at the bearish orderblock at R1.


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Commentaire:

We had Breakaway Scalper close it's previous Short signal(bar color gray) and now have another confirmed Short from it(Red bar color).
We won't be acting on this because of the underlying fact that Fractal Trend is still considering this an Uptrending ticker(Green background).