VXX update 10/4

VXX: Monthly chart looks like a cycle low is in as it can be counted as complete. Maybe one more wave lower, but down side risk (few dollars) is small compared to upside reward ($300 to $5000).

VXX monthly

The daily chart shows how the VXX broke out from a months’ long falling wedge. That is bullish and when it happens price tends to revisit the start of the wedge: mid-50s. If price can clear the 50d SMA, then the 200d SMA is next.

vxx daily