TVIX for a tiny ride down until XIV hits $29.87, then Long XIV until $33.55- 33.82
Risk reward ratio= 4.2
***Reasoning behind going long XIV:
Some of the past drops have been approximately -28% before returning upwards
also the 61.8% fib retracement level for the previous bull rally is around the $29.20 area
using Vdubus's Vdub FX Sniper VX3 strategy to help indicate buy and sell levels (i don't do automated, just using the strategies for confirmation)
Havent gotten a buy signal yet, but will start this position with a stop and wait for a confirming buy signal (or lack of one)
Risk reward ratio= 4.2
***Reasoning behind going long XIV:
Some of the past drops have been approximately -28% before returning upwards
also the 61.8% fib retracement level for the previous bull rally is around the $29.20 area
using Vdubus's Vdub FX Sniper VX3 strategy to help indicate buy and sell levels (i don't do automated, just using the strategies for confirmation)
Havent gotten a buy signal yet, but will start this position with a stop and wait for a confirming buy signal (or lack of one)
Thanks