Takuri Line : reversal sign.

NASDAQ:TLT   Ishares 20+ Year Treasury Bond ETF
Alright, interesting candle on the one week on TLT :

In my opinion this is a Takuri Line. The body is small and the close happens near the high (I am not 100% satisfied with this classification since it has an upper shadow but it is 16% of overall candle). The lower shadow is more than three times the body length (3.37). So it fits the takuri line definition.

It happens at an extreme low - lowest point in over 120 weeks - which would also be a good environment for the Takuri line to appear. It is statistically a solid reversal candle.

If we gap up tomorrow and finish above 116 in the next three weeks we could be setting a new up trend that leads us to 132 - 133.... (we couled retest 108)

IT IS VERY BULLSIH - I know. I think macro factors favor a more bullish bias...

we'll see.

Good luck.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.