RizeSenpai

TLT: Falling Wedge Double Bottom at .382 with Bullish Divergence

Long
RizeSenpai Updated   
BATS:TLT   Ishares 20+ Year Treasury Bond ETF
The TLT looks like it's trying to form a Double Bottom at the 0.382 Fibonacci Retracement, it is also Bullishly Diverging at this level, if it holds up I think it could go up to as high as $96 near the 200-period Simple Moving Average which would also fill the gap. From there I'd think it could continue back down.

I will be selling weekly puts around the lower 90 strike and buying weekly calls at the same level.
Trade closed: target reached