I am also long with the VIXY from 18.5, but with a medium term target of 23 rather than 26. Hopefully the VIXY will breakout above 23 and the UVXY will break out above 38. However, if these medium term targets are reached, perhaps coincident with the SPX bouncing off the 200 day ma, and the VIXY and UVXY do not break out above 23 and 38, then I will also be looking at taking profits and shorting both the VIXY and UVXY with downside targets of 18 and 23 respectively.
While the above strategy is perhaps ideal, due to the extreme volatility of these ETFs it is a fine balance between taking profits, cutting losses, and staying in the trades to achieve maximum gain. However, in order to practice, imo you need to have money on the line, not too big a trade size, but big enough to make it interesting.
