Now, I've been in a trade on TLT for a little while now. About 2 weeks. It's quite obvious there's a couple things going on here:
1. A reduction of downward momentum that ended in mid-March. 2. A move up followed by a corrective move to the downside which did not make a new low 3. Our indicators indicated we were about to make a move to the upside 4. There's also a visible inverted head and shoulders that broke out on June 8
Mix all these things and there's a squeeze that is expanding to the upside as well. Although we may see a pullback to retest the breakout area, I'm interested in seeing TLT make a move up to approximately $149 in the coming month.
Trade active
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We're still in good shape here. I see continued upside ahead of us to hit our upside target of $149. It might take a little longer. A couple weeks maybe. This will follow the ZB trade I also have listed here on TradingView.
Trade active
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I'm going to be exiting my TLT trade soon. Hit target or not, the move up today was pretty nice. Lets keep going for a few more days!
Trade closed: target reached
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Trade Closed - We took profit on this today. Overall >100%