A little scalp in the market on a Monday for a 2:1 R-multiple. I am not risking more than a percent given it's Monday and price did not dig into the price zones I was expecting, I demand my price. The setup in NY open is a Turtle soup and OTE setup.
No USD news High or Medium today.
My weekly setup for the 30 yr Bonds panned out. Although price didn't dip into the PD Array I was eyeing but I was quick to recognize the setup when it happened and that was the way price reacted to a short term low (previous day's NY session low).
A Turtle soup buy setup and 5 OTE setups were available an hour after NFP release.
Key take away: Wait for the OTE...
We now have a good signal here indicating bonds can rally substantially in the coming weeks. I've bot a bull call spread to capture the upside here, expiring on Dec 10th, for the March contract.
It allows me to fine tune risk and maximize gains if the trade works in a way that an outright futures long position wouldn't. If you can, join on Monday on dips, if...
