Two levels of support are coming up, 132.50, 127.50.
If the latter does not hold, it is a pretty steep slide to the next level of demand at 120.
I believe the better the better R/R would be to wait for a test of the 127.50, stopping out under 125.00.
Remember, we as traders do not have to swing at every pitch. We are looking for mis-priced bets, so it pays to be patient.
TLT is an . Even though I lean technical, I think it is important to know what you are trading or investing in. Here is a link to the TLT page: https://www.ishares.com/us/products/239454/ishares-20-year-treasury-bond-etf