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TVIX - no reliable bottoming pattern
Even though TVIX got a pullback off my green box the bottom still does not look reliable. My problem is that it hit a minor 150% extension. That is not a super strong one. I would rather prefer it to stretch at least to 176.4% ext (22.42). What would add confidence is test of the lower red trend line.As you can see on the chart TVIX has tested the 200 MA line on 15 min (the blue line ). I do not have any position in TVIX now and do not plan to enter. TVIX is a wild beast and you can find yourself deep underwater. You have to have a good bottoming count on three time frames to go long x3 ETF.