VelocityShares Daily Inverse VIX Short Term ETN (XIV)

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I have been doing a lot of back testing on a 1:2 risk/reward formula that I noticed was being mentioned a lot on youtube videos.

Basics:
1. Trendline break (trendline must be tested at least 3 times)
2. Full candle above trendline is a signal to watch for continuation at least 2-3 candles following the full break.
3. The risk is the price of .10 above the full candle break (the buy trigger) minus the last swing low.
4. The exit target is the risk price multiplied by 2 then added to the buy trigger.

I know it sounds confusing, but I find that it works pretty well, so I thought I would share some examples. One of my biggest weaknesses is selling too soon! So I am just trying to find something that can keep me in the trade a little longer. I tend to trade it mostly on the 60 minute chart, but it often works on the 4 hour and daily as well.



TVIX 60 minute chart


waiting for the follow through 2-3 days later can help avoid false breaks