We can enter shorts in TLT in two different ways. One is derived from the daily and weekly charts, the other from the monthly. If more conservative take only the monthly trade. Otherwise you could risk half on each. I think the bonds have topped here and we'll see continued yield onwards.
Good luck!
Ivan Labrie. PD: if interested in my trading signals or private tuition, message me.
Great call on this Ivan! Looks like price is retesting that swing low break @137.26, good chance price falls from here? 135 first test of support.
felix997
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why did you close it.do you smell like interest rate that will decrease.
IvanLabrie
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I covered the short because of the move towards my stop.
We can reshort on a break of the level on chart.
If the rates do increase the fall can be really sharp.
IvanLabrie
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From Tim West's chatroom, I quote myself:
we'd need to see 4359.57 hit by Sept 15th or sooner.
To remain bullish and expect considerably higher prices.
Even then, we'd have to determine if BTC can break the resistance at 4374.86
I want to see if Silver and gold hold above the current support levels by the end of the week.
s3.amazonaws.com/tradingview/snapshots/b/BXetQfgS.png
I closed longs in profit for now, for a modest 3.5R gain.
:D
I'll reenter once support is confirmed to hold, and we have reasons to expect further upside...it'll probably be decided this week, with the ECB meeting news, and the US data, and crude data to come this week.
If we have hints for a decrease or change of plans, or admitting failure of the recent monetary policy experiments, that could be a major catalyst for a move.
This and risk of an interest rate hike, are I think, what could make the current trends shift, or at least, what could cause a considerable move to come asap.
I see many instruments, and specially, the yen, bonds, gold, silver, and SPX, positioned for a drastic breakout.
Should be an interesting week.
edmunch
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Is it not an ascending triangle with a more up move?
Thanks Ivan!
IvanLabrie
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Hi, thanks for the comment.
It could be for someone who follows that type of technical pattern.
I don't, so I don't even see it.
Cheers,
Ivan.