$TLT Bullish Cypher
Real nice look here on TLT for a wave 1 and 2, forming the bullish cypher at the lows.
This is an update to our trade from Oct 23 and a secondary entry here on the 3day, with triple bullish divergence on the weekly.
Macro momentum hasnt turned up quite yet, but obviously on the higher time frames thats going to be lagged pretty good. The daily however is just now beginning to cross up, and will continue rising above 85, with an expectation of exhaustion as high as 130.
The daily ADX is also rolling over and signaling the end of the bearish trend. Volatility is still contracting on the daily, so it could take a little time to get an expanding environment of the lows, which would be inline with a type 2 reaction / db locally here at the 886.
Theres always a chance youll get a sweep of the lows for a spring event, but that isnt being suggested here. If this happens i would consider it an opportunity for options, if the break lower is rejected and the range is reclaimed as support.
A lot of implications here if we see this play out.
This is an update to our trade from Oct 23 and a secondary entry here on the 3day, with triple bullish divergence on the weekly.
Macro momentum hasnt turned up quite yet, but obviously on the higher time frames thats going to be lagged pretty good. The daily however is just now beginning to cross up, and will continue rising above 85, with an expectation of exhaustion as high as 130.
The daily ADX is also rolling over and signaling the end of the bearish trend. Volatility is still contracting on the daily, so it could take a little time to get an expanding environment of the lows, which would be inline with a type 2 reaction / db locally here at the 886.
Theres always a chance youll get a sweep of the lows for a spring event, but that isnt being suggested here. If this happens i would consider it an opportunity for options, if the break lower is rejected and the range is reclaimed as support.
A lot of implications here if we see this play out.
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