Yesterday's close on 
TLT broke the day's range causing many to think it was going lower. However, today's open reverses that sentiment by opening back above that short term range.
Bonds are a very cyclically trending instrument (see below) and at some point the down move of the last few days was likely to reverse. This could be the setup with a low risk stop to get long TLT.
TLT broke the day's range causing many to think it was going lower. However, today's open reverses that sentiment by opening back above that short term range.Bonds are a very cyclically trending instrument (see below) and at some point the down move of the last few days was likely to reverse. This could be the setup with a low risk stop to get long TLT.
Note
My best drawing to illustrate the criticality of bonds price action. Not my personal style. This was pointed out to me by another trader that specializes in leveraged bond products.
Note
"Be to others the person you needed to meet 10 years ago"
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Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.