I include the daily VIX chart in my PowerPoint document, and am able to quickly glance at the chart each day as a part of my morning routine. I also put notes on my PowerPoint document, directly underneath the VIX chart, with my criteria.
On the daily VIX chart, I'm looking for the Bollenger bands to continue tightening, for the candle to bounce off of the lower band, and for the actual VIX value to be near or below the previous 6 month low.
I also look for the spread between the lower and upper Bollenger band to represent a ~20% gain.
The VIX chart appears to be approaching that point in the next few days.
Once all that occurs, I will begin watching the 60 minute chart a few times a day for the tall candle and increased volume to appear that indicates the move from the lower Bollenger band to the upper has begun, and catch as much of the move as I can.
Thanks to your insight, I will buy UVYX when this does occur.
Its just recognizing a chart pattern someone else told me about, and I have since seen myself. Nothing more complicated than that.
