nmike

TLT update (daily)

Long
AMEX:TLT   None
20
After forming a positive diverging double bottom TLT is now above the 50 ema with a convincing bullish candle. On a weekly frame the Fisher 34 formed an inverted head & shoulder pattern. The 2 near term targets are the .236 and .382 Fib levels.This is one my favorite trend following system. Idea based on Darryl Guppy's multiple moving averages methodology. With this system many false signals can be avoided by implementing multiple time frame analysis and using significant divergences as early entry or exit signals.

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