XIV could be due for a quick a violent correction if the pattern repeats itself. Basically, the idea is that once XIV get stuck between resistance and rising moving averages, there is possibility for a puke.
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Be wary of a shakeout, followed by a puke
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That was one hell of a puke in August 2015. Sadly, I didn't trade it.
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Up to 114 to test the resistance one more time, and then crash?
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Actually, it might not even reach 114. Adding to my short position here.
手動でトレードを終了しました
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Closed this position; XIV broke over resistance
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My monthly chart says XIV could run into high 120s
Hi! I'm a beginner trying to learn some technical skills here :) What do you mean by "stuck between resistance and rising moving average"? Does this happen when the lows of the price touches the moving averages? Thank you!
The price touches the resistance, gets rejected at the resistance, drops until it touches moving average, finds support at the moving average, then rises to touch resistance again, gets rejected again etc.
Basically, it means the asset is trading in an increasingly narrow range, until eventually some kind of resolution happens.