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JoeHayes

Clearer chart of Potential Bat Pattern for TBT on Weekly Chart

Long
ProShares UltraShort Lehman 20 Year Treasury (AMEX:TBT)  
JoeHayes  
AMEX:TBT   ProShares UltraShort Lehman 20 Year Treasury
Bat Harmonic Patterns Harmonic Patterns Gartley swing position Butterfly Daily Charts Weekly Charts
2
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batpattern harmonicpatterns harmonicpatterns gartleypattern swing position butterflypattern daily weekly
I posted the Daily chart a couple days ago; here is the weekly chart which is a bit clearer for people.
Again, I'm looking to get long around 61.30s to not miss the move. I would expect a retest of the B point, but I will usually just stick with a 1:2 R/R and move on.

Volume saw increase during ascent of the 'XA' leg and fell off during the decline and maturity of the pattern.
Also there is some noticeable momentum divergences found on both the stochastic oscillator and mac-d histogram for both the daily and weekly charts.

Entry: 61.30
Stop Loss: 57.97
Profit Target: $67.96

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