09/16/2020 VIX update [UVXY]
Today I've noticed two bullish confirmation which gives a high probability of trend reversal.
1. Hammer candle
- This shows buyers start to take control over shorts, confirms 19 areas successfully acted as support.
2. Green volume picked up
- buyers are increasing, another confirmation that many traders believe 19 is bottom.
We may see a reversal from here, the conservative target is 30.
**Trade with probability, hammer, and volume give higher chance, they are not guaranteed.
1. Hammer candle
- This shows buyers start to take control over shorts, confirms 19 areas successfully acted as support.
2. Green volume picked up
- buyers are increasing, another confirmation that many traders believe 19 is bottom.
We may see a reversal from here, the conservative target is 30.
**Trade with probability, hammer, and volume give higher chance, they are not guaranteed.
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