jaxdog

$TBT 2x (Ultra) Short 20 Year Treasuries Ready to Break-Out?

Long
jaxdog Updated   
AMEX:TBT   ProShares UltraShort Lehman 20 Year Treasury
This will be a very simple trade for me. I have already placed a Buy-Stop Order GTC @ 19.04 which is one penny above the most previous high. See my line on the chart. The reasoning for the trade is that if rates exceed that previous high they are likely to continue to climb. Of course, I'll have a very tight stop which will be no more than 1% risk, maybe less if the chart allows it. I have no idea if this will trigger or how long it may take if it does. Ideas, not investing / trading advice. Note this is a weekly chart to help take out some noise on daily moves.
Trade active:
I've had a buy stop order in place for this trade since 1/18/22 - Triggered me in this morning at 19.04. My stop will be very close, just under the horizontal resistance / support line.

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