9 Year Falling Wedge - Sh*t going to hit the fan soon
A falling wedge of this magnitude is rare in my opinion. This level for the VIX is also great for GBTC and Bitcoin.
9 years show this wedge is falling to lowest levels ever - Right before presidential race, qualitative easing, negative interest, and ballooning corporate debt.
Comes to a point February 2020 but could take off before. But it should retest $30+ in my opinion.
I am using Call options on Nov 1 and Nov 8 currently. $16.5 Call for $0.30 each ($30 bucks). Cheap for roughly 1:7 (risk/reward) ratio, make $500 off $70.
Shows a buy on the Daily today - But if you want to watch for more time, look for another entry in 4-8 weeks back at this level.
I will be getting Calls for March - June depending on how chart looks.
9 years show this wedge is falling to lowest levels ever - Right before presidential race, qualitative easing, negative interest, and ballooning corporate debt.
Comes to a point February 2020 but could take off before. But it should retest $30+ in my opinion.
I am using Call options on Nov 1 and Nov 8 currently. $16.5 Call for $0.30 each ($30 bucks). Cheap for roughly 1:7 (risk/reward) ratio, make $500 off $70.
Shows a buy on the Daily today - But if you want to watch for more time, look for another entry in 4-8 weeks back at this level.
I will be getting Calls for March - June depending on how chart looks.
Comment:
Forgot - If FED Reserve doesn't cut interest rates today at 2pm EST, this thing will definitely pop.